Gs Battery Vietnam Company Limited (Vietnam)

The subject is a member of GS YUASA GROUP which owns the trademark of “GS BATTERY”. In Vietnam, the subject is playing the role of manufacturing batteries for auto, motor and other special types. Along with domestic market, its products are exported to Gs Yuasa International Ltd. in Japan, and other markets (Singapore, Malaysia, India, etc.).According to the GS group's report, in December 2020, the subject installed and began to operate solar power generation systems incorporating the Group's industrial storage batteries. These solar power generation systems also contribute to the reduction of CO2 emissions by supplying electricity from the storage batteries and thereby covering part of the nighttime power consumption. In addition, the generated electricity is consumed as office electricity, and a contract has been concluded to sell surplus electricity to an electric power company. In 2023, the group planned to expand sales in line with robust market demand in Vietnam and Indonesia while closely monitoring fixed expenses and rising prices. The GS group also planned to make investments for automation and labor-saving in production. It is expected to improve for margins in the future.In the general situation of the industry, the Vietnam battery market is experiencing significant growth due to the increasing demand for portable power sources in various industries and applications. Batteries are essential components for powering electronic devices, vehicles, and renewable energy systems. The market is driven by factors such as rapid industrialization, growing consumer electronics market, and government initiatives promoting renewable energy sources. With the rising need for reliable and efficient energy storage solutions, the Vietnam battery market presents lucrative opportunities for industry participants. The Vietnam battery market is projected to exhibit a growth rate (CAGR) of 6.12% during 2024-2032.