Fastest Growing companies of Battery Technologies in Vietnam

Vietnam is emerging as a significant player in the battery technology sector, particularly with the increasing global demand for electric vehicles (EVs) and renewable energy storage solutions. Here are some of the fastest-growing companies in the battery technology sector in Vietnam:

1. VinFast (a subsidiary of Vingroup)

• Website: VinFast

• Headquarters: Hai Phong, Vietnam

• Estimated Revenue: $2.5 billion USD (2023)

• Estimated Number of Employees: 10,000+

• Main Business: VinFast, a subsidiary of Vingroup, is Vietnam's leading automotive manufacturer with a strong focus on electric vehicles (EVs). The company is rapidly expanding its battery technology capabilities, including establishing partnerships for battery production and developing its own battery research and manufacturing facilities.

• Growth Factors: Strong investment in EVs and battery technology, partnerships with global battery suppliers, and rapid expansion into international markets.

2. Mitsubishi Chemical Vietnam

• Website: Mitsubishi Chemical

• Headquarters: Ho Chi Minh City, Vietnam

• Estimated Revenue: $1 billion USD (2023, globally)

• Estimated Number of Employees: 1,500+ (in Vietnam)

• Main Business: Mitsubishi Chemical operates in Vietnam with a focus on producing advanced materials, including those used in battery technologies. The company is growing quickly in Vietnam due to the rising demand for battery materials, particularly for lithium-ion batteries.

• Growth Factors: Investment in local production facilities, increasing demand for battery materials, and expansion in the Southeast Asian market.

3. Toshiba Asia Pacific Vietnam

• Website: Toshiba Asia Pacific

• Headquarters: Hanoi, Vietnam

• Estimated Revenue: $900 million USD (2023, in Southeast Asia)

• Estimated Number of Employees: 1,000+

• Main Business: Toshiba operates in Vietnam with a focus on energy solutions, including battery technology for energy storage systems (ESS). The company is experiencing growth in Vietnam due to the expanding market for renewable energy and energy storage.

• Growth Factors: Expansion in renewable energy projects, investment in ESS technology, and strategic partnerships in the region.

4. NHOA Vietnam (formerly Engie EPS)

• Website: NHOA

• Headquarters: Ho Chi Minh City, Vietnam

• Estimated Revenue: $500 million USD (2023, globally)

• Estimated Number of Employees: 800+ (in Vietnam)

• Main Business: NHOA focuses on energy storage systems and EV charging infrastructure. The company is expanding rapidly in Vietnam, driven by the growing demand for energy storage solutions and the government's push for renewable energy adoption.

• Growth Factors: Government support for renewable energy, increasing investments in energy storage, and expanding infrastructure for electric vehicles.

5. Phaesun Vietnam

• Website: Phaesun

• Headquarters: Ho Chi Minh City, Vietnam

• Estimated Revenue: $300 million USD (2023, globally)

• Estimated Number of Employees: 500+

• Main Business: Phaesun is a global leader in off-grid energy solutions, including solar energy systems and battery storage. The company is growing in Vietnam as demand for off-grid and sustainable energy solutions rises, particularly in rural and remote areas.

• Growth Factors: Expansion of off-grid energy projects, increasing demand for sustainable energy solutions, and growth in rural electrification initiatives.

6. ABB Vietnam

• Website: ABB

• Headquarters: Hanoi, Vietnam

• Estimated Revenue: $700 million USD (2023, in Southeast Asia)

• Estimated Number of Employees: 1,200+

• Main Business: ABB is involved in providing solutions for electric mobility, including EV chargers and battery energy storage systems (BESS). The company is expanding in Vietnam due to the growing EV market and the need for supporting infrastructure.

• Growth Factors: Growth in EV infrastructure, government initiatives supporting electric mobility, and expanding presence in Southeast Asia.

7. SUNGROW Vietnam

• Website: SUNGROW

• Headquarters: Hanoi, Vietnam

• Estimated Revenue: $600 million USD (2023, globally)

• Estimated Number of Employees: 600+ (in Vietnam)

• Main Business: SUNGROW specializes in inverters and energy storage systems. The company is rapidly growing in Vietnam due to the rising demand for renewable energy projects and energy storage solutions.

• Growth Factors: Expansion in renewable energy sectors, increasing investments in ESS, and strong growth in the Vietnamese solar market.

8. Leoch Battery Vietnam Co., Ltd.

• Website: Leoch Battery

• Headquarters: Binh Duong, Vietnam

• Estimated Revenue: $200 million USD (2023, in Vietnam)

• Estimated Number of Employees: 800+

• Main Business: Leoch Battery specializes in the production of lead-acid and lithium batteries for various applications, including automotive, telecom, and renewable energy. The company is expanding its operations in Vietnam to meet the growing demand for batteries across multiple sectors.

• Growth Factors: Expansion in production capacity, diversification of battery offerings, and growing domestic and export markets.

9. Vietnam Sunergy (VSUN)

• Website: VSUN

• Headquarters: Bac Giang, Vietnam

• Estimated Revenue: $400 million USD (2023)

• Estimated Number of Employees: 1,000+

• Main Business: Vietnam Sunergy is a solar module manufacturer that is expanding into battery storage solutions. The company is seeing rapid growth due to the increasing integration of solar energy with battery storage systems.

• Growth Factors: Rising demand for solar-plus-storage solutions, expansion of production facilities, and partnerships in the renewable energy sector.

10. Hawee Industrial Group

• Website: Hawee

• Headquarters: Hanoi, Vietnam

• Estimated Revenue: $250 million USD (2023)

• Estimated Number of Employees: 1,200+

• Main Business: Hawee Industrial Group is involved in manufacturing and supplying energy solutions, including batteries for industrial and renewable energy applications. The company is growing rapidly in Vietnam, driven by the increasing demand for energy storage systems and industrial batteries.

• Growth Factors: Investment in advanced battery technology, expansion into renewable energy markets, and strategic partnerships with global technology providers.

These companies are leading the charge in Vietnam's battery technology sector, capitalizing on the country's growing demand for electric vehicles, renewable energy, and energy storage solutions. Their rapid growth is driven by both domestic needs and expanding opportunities in global markets.