Why should Vietnam invest in a lithium battery?

The declining cost of lithium battery cells, coupled with technological advancements, has made BESS increasingly affordable and accessible, according to Contemporary Amperex Technology, the world’s largest battery manufacturer. Vietnam should capitalise on this trend to attract investment, create green jobs, and enhance energy security.

Can vit Nam become a global battery supply chain?

HÀ NỘI — Việt Nam has the potential to become an important link in the global battery supply chain due to its rich mineral resources, but much more effort is needed in the research and development of domestic battery production to fully realise this potential.

Can Bess improve Vietnam's energy infrastructure?

Integrating BESS into Vietnam’s energy infrastructure demonstrates promising prospects for facilitating the nation’s energy transition. By storing excess energy during periods of low demand and releasing it during peak times, BESS can enhance grid flexibility, reduce emissions, and lower electricity costs.

What is the global battery capacity in 2023?

Global battery capacity in 2023 reached about 850 gigawatt hours (GWh), up more than 40 per cent compared to 2022, with electric vehicles (EV) being the main driver of the battery market. The demand for EV batteries accounted for around 750 GWh – or nearly 90 per cent – of the total battery demand in 2023.

Is vit Nam a key player in the global electric vehicle supply chain?

According to Dr Đinh Công Hoàng from the Vietnam Academy of Social Sciences, with significant nickel reserves in the northern province of Sơn La, Việt Nam is emerging as a key player in the global electric vehicle supply chain, especially in providing raw materials and manufacturing EV batteries.

Is Vietnam ready for a 300MW Bess target?

While Vietnam has taken initial steps by including a 300MW BESS target in the PDP8, more ambitious action is needed. The declining cost of lithium battery cells, coupled with technological advancements, has made BESS increasingly affordable and accessible, according to Contemporary Amperex Technology, the world’s largest battery manufacturer.