VinFast’s general director of manufacturing Pham Nhat Quan Anh (left) shakes hands with a representative of Japan’s Marubeni during a signing ceremony on December 5, 2023. Photo provided by VinFast
Representing carmaker VinFast, Pham Nhat Quan Anh, son of billionaire Pham Nhat Vuong, signed a memorandum of understanding with Japan’s Marubeni Corporation for cooperation in recycling electric vehicle batteries.
The memorandum of understanding (MOU) was finalized on December 5, but the public announcement took place on Monday in Tokyo, in the presence of Vietnamese Prime Minister Pham Minh Chinh. Prime Minister Chinh was in Japan from December 15 to 18 for the Commemorative Summit of the 50th Anniversary of ASEAN-Japan Friendship and Cooperation, as well as other bilateral engagements.
Under the MoU, VinFast and Marubeni will collaborate on the research and production of battery energy storage systems (BESS) using recycled electric vehicle batteries.
While VinFast will supply the batteries, Marubeni’s role includes carrying out feasibility assessments, offering technical advice and managing the BESS installation.
The MoU marks Pham Nhat Quan Anh’s first public appearance as deputy general manager of VinFast’s manufacturing department.
“Optimizing the life cycle value of electric vehicle batteries not only makes smart electrified mobility more accessible, but also advances the goal of a green future for all.” Anh said in a press release.
Anh is one of three children of Vuong, who is Vietnam’s richest man with a net worth of $4.6 billion according to US magazine. Forbes.
Anh held a 0.5% stake in VinFast in 2021. This company was restructured to list on the Nasdaq stock exchange in August this year.
As part of Vingroup’s upcoming employee stock issuance (ESOP), Anh is expected to purchase 150,000 VIC shareholders on December 21. This will be the first time Anh will hold Vingroup shares.
