VinFast Partners with Marubeni to Revolutionize EV Battery Recycling
On Monday, Vietnamese electric vehicle (EV) VinFast manufacturer announced the signing of a memorandum of understanding with Japan’s Marubeni Corp to facilitate the recycling of used EV batteries.
Under the agreement, The company will supply the used batteries, while Marubeni will transform them into affordable Battery Energy Storage Systems (BESS) that are easy to manufacture, according to a statement released by the Vietnamese company. Notably, the recycling process will eliminate the need for disassembly, processing, and repackaging of the batteries. The deal was reportedly finalized during a regional leaders summit in Japan over the weekend.
The collaboration is a strategic move towards establishing a circular economic model, reflecting their commitment to sustainability. VinFast, founded in 2017 and supported by Vietnam’s largest conglomerate, Vingroup (VIC.HM), recently made its debut on Nasdaq in late August.
Read More (EV – Tech Foom)
