HANOI : Two Chinese makers of energy storage systems and batteries are weighing investments worth hundreds of millions of dollars in Vietnam, industry and government sources said.
Xiamen Hithium Energy Storage Technology, a startup that is expanding in Europe and the U.S., has approached officials and industry managers in Vietnam to potentially invest up to $900 million to build a plant on more than 30 hectares of industrial land, the person said. Growatt New Energy, which leases a pre-fabricated plant in Vietnam, is planning to spend about $300 million to acquire about 15 hectares of industrial land to build a new factory, the first source said.Growatt, which produces battery systems and energy storage inverters for residential and commercial use, did not reply to requests for comment.