A different perspective on Vietnam’s economy and doing business in Vietnam. Make sure to  subscribe.

Vietnam’s battery manufacturing sector achieves robust growth in 2024

Vietnam’s production of batteries and accumulators increased by 6.9 percent in December compared to November, according to Vietnam’s Industrial Production Index.

Year-on-year, the sector saw a significant growth of 17.7 percent in December 2024 compared to December 2023. For the full year of 2024, cumulative growth reached 13.7 percent compared to 2023, highlighting strong and consistent performance across the industry.

The December growth reflects surging demand for energy storage solutions, driven by the expanding electric vehicle (EV) market and renewable energy projects. The strong year-on-year and annual growth underline Vietnam’s increasing capacity to meet global and domestic needs for batteries, including advanced lithium-ion technology.

Battery and accumulator manufacturing is a critical and fast-growing segment of Vietnam’s industrial sector. With foreign investments from leading technology firms and a shift towards sustainable energy solutions, the sector is poised to become a major player in global supply chains. Vietnam’s push for greener energy systems and EV development further strengthens its potential in this market.

The robust growth in 2024 underscores the industry’s critical role in supporting Vietnam’s energy transition and manufacturing expansion.

See also: Electronics Manufacturing in Vietnam

Get Vietnam electronics manufacturing news sent straight to your inbox