The Industrial Production Index (IPI) for battery and accumulator manufacturing decreased by 2.22 percent in November compared to October, reflecting a slight month-on-month contraction, according to Vietnam’s General Statistics Office. Despite this decline, the sector continues to post impressive annual growth figures.
Year-on-year, the industry recorded a significant 15.35 percent increase in November 2024 compared to the same month in 2023. Over the first 11 months of 2024, the sector achieved a cumulative growth of 12.23 percent, highlighting its robust contribution to Vietnam’s industrial output.
This performance is driven by the global demand for batteries in electric vehicles, renewable energy systems, and consumer electronics. Vietnam’s focus on expanding production capacity and improving technology has positioned it as a key player in this rapidly growing industry.
Battery manufacturing is vital to Vietnam’s industrial landscape, supporting the energy transition and export growth. Continued investments in advanced production and sustainability will ensure the sector remains competitive globally.
See also: Manufacturing in Vietnam