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Vingroup sets up two battery production, AI application firms

Vingroup sets up two battery production, AI application firms

A bird’s eye view of the VinFast auto factory owned by Vingroup. The group has set up two battery and AI application companies - PHOTO: VINGROUP

HCMC - The VINES Energy Solutions JSC (VinES) and the VINAI Artificial Intelligence Research and Application JSC (VinAI) have been established by Vingroup with total charter capital of VND1.425 trillion.

VinES has charter capital of VND1 trillion, with 51% contributed by Vingroup. The company, headquartered in Hanoi City, specializes in producing accumulator batteries.

In addition, the group contributed 99.8% of the total capital of VND425 billion to the establishment of VinAI, which is also located in Hanoi City. The firm is set up for scientific research and technology development.

The establishment of the two firms is aimed at promoting Vingroup’s business activities and strengthening the three main pillars---technology-industry, trade and service in 2021.

In the technology and industry field, VinFast, a subsidiary of Vingroup, will launch three smart car models, VFe34, VF35 and VF36, this year. These cars are set to target customers who wish to use electric cars.

Vingroup will also develop a smart ecosystem featuring smart cities, smart homes and smart services.

Earlier, Vingroup proposed the Government and the relevant ministries and departments pilot preferential tax policies for electric cars.

The Ministry of Industry and Trade said that it is possible to consider not collecting an excise tax and registration fee for five years for the products to encourage electric auto production and consumption to protect the environment.

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