Vietnamese enterprises have yet to enter the midstream stage of the large-scale energy storage (BESS) value chain
Resources are available, but moving up to battery manufacturing remains difficult
Lithium-ion batteries are the world’s dominant energy storage technology. They are widely used in electric vehicles, consumer electronics, and especially in large-scale Battery Energy Storage Systems (BESS). If Vietnam wants to participate deeply in the green energy industry, lithium batteries are the mandatory gateway.
Speaking at a recent regional workshop organized by GEAPP, Mr. Bùi Xuân Bình, CEO of GG Industries, emphasized that developing lithium batteries must start from the root: mining and refining critical raw materials.
Vietnam currently owns several lithium deposits and other valuable minerals. For example, a survey conducted by the Central Vietnam Geological Federation (2005–2009) discovered 40 lithium ore bodies in the La Vi area (Quảng Ngãi), mainly in the form of pegmatite veins containing lithium and tin. The estimated reserves are around 1 million tons of ore, equivalent to 10,000 tons of Li₂O.
In addition, data from the Ministry of Industry and Trade shows that Vietnam also has significant nickel resources with total estimated reserves of about 3.6 million tons — primarily in Thanh Hóa (over 3 million tons), followed by Sơn La (420,000 tons) and Cao Bằng (134,000 tons).
However, according to Mr. Bình, Vietnam still lacks refining technology. This means that although raw minerals exist, they cannot be upgraded into battery-grade input materials for cell manufacturing. This is the “bottleneck” that keeps Vietnam stuck outside the midstream and upstream segments of the global battery value chain.
“When looking at the value chain, it becomes clear that in the midstream stage — cell manufacturing and electrode production — Vietnam has contributed almost nothing,” Mr. Bình said.
As the former Chairman of the Board of Members of the joint venture between Gotion (China) and VinES Energy Solutions (a member of Vingroup) to build a cell manufacturing plant, Mr. Bình observed that Vietnamese companies have essentially not entered the midstream stage of the battery industry — the production of battery cells.
After nearly six years leading the global supply chain development at VinFast, including EV battery supply chains and energy storage battery supply chains, Mr. Bình sees this as both an opportunity and a challenge.
✅ The opportunity: Vietnamese enterprises can participate in the production of components with lower technology and intellectual property requirements.
❌ The challenge: For components requiring high technological sophistication and intellectual capacity—such as control circuit boards or battery management software—Vietnam has not yet mastered these capabilities.
As a private enterprise and innovation-driven startup, the CEO of GG Industries believes that domestic companies must invest seriously in Research & Development (R&D), instead of focusing only on trading and assembly.
“When I was at VinFast, we always wanted local suppliers to develop components for cars and batteries. But a major drawback was that most suppliers only stopped at making machining drawings, without any testing,” Mr. Bình recalled.
However, what major companies like VinFast need is for suppliers—when given a sample design or concept model—to be able to execute the entire process: engineering, pilot manufacturing, testing, and meeting required industry standards.
Mr. Bình believes that this end-to-end capability is the critical foundation needed to build a supporting industry for the renewable energy sector.
GG Industries: Taking the lead and enabling the ecosystem
Positioning his company as a “pioneer bird” leading the flock, Mr. Bình stated that GG Industries has invested early in R&D capabilities to spearhead and support other Vietnamese enterprises in joining the value chain.
He shared that GG Industries will provide detailed guidance on each step required to manufacture specific products and components.
With a clear roadmap, within just 3–5 years, domestic companies can build design and testing capabilities.
At that stage, GG Industries will no longer need to handle every part of the manufacturing process.
Instead, it will focus on system integration—turning individual components into a complete BESS solution that meets international technology and market standards.
However, Mr. Bình emphasizes once again: the prerequisite is investment in R&D.
He also noted that R&D does not mean isolating oneself to “reinvent the wheel.”
Instead, it requires technology transfer, licensing, and IP sharing with customers and partners—based on business revenue models.
— According to Quỳnh Chi, TheLeader.vn
