Vingroup sets up new energy, AI subsidiaries
Two new subsidiaries under the Vietnamese conglomerate VinGroup – the VinES Energy Solutions JSC (VinES) and VinAI Artificial Intelligence Application and Research JSC (VinAI) – have been established with charter capital of VND1,000 billion (US$43.68 million) and VND425 billion, respectively.
Founded on August 4, both companies are located at the Vinhomes Riverside urban area in Hanoi’s Long Bien district.
Vingroup contributed 51% of VinES’s charter capital and 99.8% of VinAI’s.
VinES's main business is manufacturing batteries and accumulators. Its production will complement the group's strategy on developing electric vehicles at its automotive manufacturer VinFast.
Meanwhile, VinAI works on scientific and technological research and development.