Amid the global energy transition, mastering energy storage technology is increasingly seen as a critical “key” to national energy security.
While much of the world remains reliant on battery supplies from Gigafactories in China and the United States—often waiting in line for shipments—Vietnam is beginning to take a different path. In Hung Yen, a locally developed, internationally standardized BESS production line is already taking shape.
Speaking to Dien dan Doanh nghiep at the factory inauguration on April 11, Mr. Bui Xuan Binh, Chairman and CEO of GG Power Group, shared that the company is building a “Made in Vietnam” BESS technology platform—aiming not only to serve the domestic market but also to expand across the region.
Global Mindset to Enter the Game
– What led you to the energy storage sector, which is still relatively new in Vietnam?
I gave up what many would consider a dream position to embark on this journey. At the time, the biggest question I asked myself was: What will I be doing in the next 10 to 20 years? I wanted to pursue something meaningful—something impactful that could create real value for society. At the same time, I hoped to build something of our own together with colleagues who had been with me for many years.
The early days were truly challenging. There were long, continuous trips—eating instant noodles at airports, staying overnight, constantly on the move to meet partners and explore technologies. When we started building the factory, despite having a sizable team, we lacked operational experience. I often had to personally oversee operations, even late at night. But those moments were invaluable—they helped us truly understand what we were doing and why we chose to pursue this field, one that holds significance not only for our business but also for the country.
– Some believe Vietnamese companies struggle to compete in high-tech industries. In your view, what needs to change to overcome this barrier?
In my view, the most critical factor is adopting a global mindset. If we limit ourselves to the domestic market, it becomes very difficult to access the best technologies, talent, and supply chains. To succeed in technology, we must step beyond our borders—engage with leading global players, learn from them, and collaborate.
There are different approaches: replicating and improving existing technologies, developing in-house capabilities, or partnering to acquire foundational technologies and build on them. For Vietnamese companies, the key lies in combining these approaches in a flexible and strategic way.
At GG Power Group, we have partnered with Goldwind—one of the world’s leading renewable energy companies—to accelerate our development. We have invested directly in battery pack production, the most valuable component within a BESS system. At the same time, we are expanding collaboration with local partners to increase our localization rate, targeting 50% by early 2027.
More importantly, in the new era—the era of digital energy—it is the “brain” of the system that determines success. GG Power Group is focusing its R&D efforts on the Energy Management System (EMS). Vietnamese engineers work closely with partners to configure system operations and optimize performance in real time, ensuring full compatibility with Vietnam’s power grid. We are not just manufacturing hardware—we are mastering the software as well, which is the core driver of sustainable value.
Competing Beyond Price
– In a market that remains highly price-sensitive, how does your company position its competitiveness?
Price will always be a challenge, as it is closely tied to income levels and consumer behavior. However, we do not compete on low cost. Instead, we focus on customers who prioritize investment efficiency, safety, and long-term value. For them, the key question is not the upfront price, but the overall performance and return of the system over time.
A low-cost product that fails to deliver economic value ultimately serves little purpose. On the other hand, a higher-priced solution that optimizes operations and delivers long-term benefits remains a rational choice. That is the approach we take to the market
– Could you elaborate on your company’s competitive advantages?
Our competitive edge is built on three pillars: product, value, and after-sales service. Among these, after-sales service is structured as a standardized system—not just a general commitment. For example: critical issues are acknowledged within 30 minutes, initial response is provided within 2 hours, resolved within 24 hours, and fully assessed within 72 hours.
To achieve this, a company must build an entire ecosystem from material warehousing and engineering networks to operational processes. Everything is guided by a single principle: a customer-centric approach. The goal is not to optimize for the business, but to optimize for the customer experience.
– How can a young company build trust in a technology-driven industry that requires long-term validation?
In reality, there is no shortcut—only proof through products, value, and service. And that takes time. From the very beginning, we have committed to doing things the right way—with consistency, discipline, and patience. When customers use our products, they can evaluate for themselves the effectiveness and value we deliver.
Trust cannot be built overnight; it is the result of a continuous process. If a company remains committed to its standards and consistently puts customer interests first, trust will naturally follow over time.
– What is your vision for GG Power Group over the next 5 to 10 years?
In the next five years, our goal is to fully utilize the capacity of our factory. Looking further ahead, over the next decade, we will focus entirely on the battery sector, expanding into multiple applications such as automotive, electric vehicles, UAVs, and maritime solutions.
We are not setting modest ambitions. Our goal is to progressively position ourselves among the world’s leading companies in this field, while becoming a market leader in Vietnam.
Within the broader national energy landscape, we aspire to be a trusted partner—contributing to the development of strategies, standards, and solutions for green energy infrastructure.
– The government has set a target of double-digit growth and is calling for stronger participation from the business community. What is your perspective?
I firmly believe that Vietnamese enterprises have the capability to master even the most advanced technologies. Confidence in our internal strengths will be the foundation for achieving double-digit growth. And when given trust by the government, we are committed to going all in—bringing Vietnamese technology and intellect to the global stage.
Source: Dien dan Doanh nghiep
