Marubeni Corporation and VinFast have entered into a partnership to explore the reuse of electric vehicle (EV) batteries. The collaboration aims to repurpose EV batteries as battery energy storage systems (BESS) and establish a circular economy model for the sustainable management of these batteries. The Memorandum of Understanding (MoU) signed on December 5, 2023, outlines the two companies’ plans to promote the utilization of used EV batteries and create businesses in this field.
Marubeni, which had previously invested in B2U Storage Solutions, Inc., a U.S. start-up specializing in the second-life use of EV batteries, will now team up with VinFast and leverage B2U’s proprietary technology. The initial focus will be on demonstrating the repurposing of EV batteries into stationary batteries without requiring dismantling, testing, or repackaging. The objective is to achieve this process in a cost-effective manner.
Furthermore, this partnership expands on an agreement Marubeni’s subsidiary, Marubeni Green Power Vietnam Co., Ltd., had entered into with VinES Energy Solutions Joint Stock Company in May 2023. With this MoU, the collaboration now extends to building a circular economy system.
Marubeni aims to strengthen its strategic partnership with Vingroup through this joint initiative. Together, the companies aspire to contribute to the Vietnamese government’s ambitious goal of achieving virtually zero greenhouse gas emissions by 2050 and align with global efforts to transition to a decarbonized society. Marubeni actively supports innovative start-ups working on decarbonization and green business creation, as part of its Mid-Term Management Strategy GC2024. The company provides assistance in business development and leverages its existing platforms and networks to catalyze change.
The reuse of EV batteries represents a significant opportunity for sustainable energy storage solutions and helps address the challenge of managing and repurposing these batteries at the end of their life cycles. By collaborating with VinFast, Marubeni aims to pioneer new avenues for the secondary use of EV batteries and make a positive impact on the environment.
The partnership between Marubeni and VinFast signifies their joint commitment to a clean energy future, global sustainability, and the circular economy. By repurposing EV batteries, they aim to maximize the value of these resources, minimize waste, and drive the adoption of renewable energy. Through their collective efforts, they hope to inspire others in the industry to embrace similar initiatives and contribute to a more sustainable and greener world.
