The delegates cut the ribbon at the inauguration ceremony. — Photo haiphong.gov.vn

HÀ NỘI — Exquisite Power Vietnam has officially inaugurated its Li-ion and Ni-MH battery manufacturing plant at the Nam Đình Vũ Industrial Park in Hải Phòng, marking a significant step in advancing the city’s industrial landscape.

The facility represents a US$20 million investment and spans 13,650 square metres. The project received its investment certificate in July 2023 and was completed within 18 months, including construction, installation, and operational safety preparations.

Vincent, CEO of Exquisite Power Vietnam, stated that the decision to establish the factory in Việt Nam reflects Highpower Technology Group's confidence in the local market’s potential and its regional business expansion prospects. "This is part of our global production strategy, aiming to build comprehensive manufacturing capabilities, from battery cells to packs, in various international locations, with Việt Nam playing a critical role in our industrial expansion," Vincent noted.

He also emphasised the company’s commitment to international social responsibility, sustainable development, and adherence to environmental, social, and governance (ESG) standards. "This plant will focus not only on economic efficiency but also on promoting green business practices and sustainable development in Việt Nam," he said.

Speaking at the inauguration, Lê Trung Kiên, Head of Hải Phòng Economic Zone Authority, praised Exquisite Power Vietnam for its swift and effective project implementation. "This project highlights the successful partnership between Việt Nam and China, particularly as we celebrate the 75th anniversary of diplomatic relations between the two nations," Kiên stated.

The project not only aims to meet the growing demand for batteries globally and domestically but also contributes to economic restructuring, job creation, and improving local livelihoods.

China is currently one of the most significant foreign investors in Hải Phòng, ranking second among 42 countries and territories investing in the city. This project underscores the depth of cooperation between the two nations across various sectors. — VNS