VinES, Li-Cycle strike long-term battery recycling deal
Li-Cycle, the largest lithium-ion battery recycler in North America, said Wednesday it has signed a definitive agreement with Vietnam’s VinES Energy Solutions for a long-term battery recycling relationship.
Under the deal, the Canadian major will become VinES’s strategic and preferred recycling partner in 2024 for the latter’s Vietnamese-sourced battery materials.
A VinES Energy Solutions technician works at the company’s battery factory in Hai Phong city, northern Vietnam. Photo courtesy of VinES.
Li-Cycle's Spoke and Hub technologies use a combination of mechanical safe size reduction and hydrometallurgical resource recovery for lithium-ion battery recycling. Its Spoke facilities produce black mass, consisting of valuable critical metals including lithium, cobalt, and nickel.
Li-Cycle said in a release from Canada that the new agreement further contemplates the possible construction of a dedicated Spoke located close to VinES’s manufacturing site.
“Further, the potential Spoke has the opportunity to benefit from the growing local demand for lithium-ion battery recycling solutions, driven by strong economic growth and an increasing manufacturing presence in Vietnam.”
The heavyweight added, “An investment decision regarding the dedicated Spoke facility is expected to be made in 2025. In the meantime, Li-Cycle will facilitate the processing of VinES’ material utilizing Li-Cycle’s North American Spoke network.”
Tim Johnston, co-founder and executive chair of Li-Cycle, said: “This agreement supports our shared goals of creating a sustainable and closed-loop battery supply chain.”
Pham Thuy Linh, CEO of VinES, echoed: “By recycling battery production scrap and used batteries into the global mobility and energy storage industries, we can achieve a sustainable supply chain while reducing environmental impacts.”
To build on their partnership first announced in October 2022, VinES and Li-Cycle will also continue to explore global recycling solutions for VinFast, Vietnam's first electric vehicle (EV) manufacturer.
Both VinES and VinFast are part of Vingroup, the largest private conglomerate in Vietnam.
VinFast has expanded its business to the North American and European markets. VinES specializes in the research, development, and manufacturing of advanced batteries for mobility and energy storage applications. VinES has recently commissioned a lithium-ion battery cell manufacturing facility in Hai Phong, northern Vietnam, and expects to further expand its production capacity in the country.
Hai Phong city is also home to VinFast’s Vietnamese manufacturing complex. The EV maker has plans to build a manufacturing site in the U.S. state of North Carolina with an initial investment of $2 billion. It expects to launch the plant in 2025.
Li-Cycle opened an office in Singapore in December 2022 to support its connectivity to the Asian market and its efforts to continue building and expanding its commercial relationships with Asia-based manufacturers.
“Our office in Singapore represents an important connection point to Asia,” said Dawei Li, Li-Cycle regional president in Asia-Pacific. “We look forward to supporting VinES’s recycling needs and strengthening our commercial relationships in this important market.”
- Read More
PV Power's arm posts 5-fold jump in Q3 profit on margin recovery
PetroVietnam Power Nhon Trach 2 JSC (HoSE: NT2) reported a sharp rebound in third-quarter earnings as improved margins and higher revenue lifted profits nearly fivefold from a year earlier.
Companies - Wed, October 22, 2025 | 8:37 am GMT+7
TCBS overtakes SSI to become Vietnam’s largest securities company by market cap
Over 2.3 billion shares of Techcom Securities JSC (TCBS) debuted on the Ho Chi Minh City Stock Exchange (HoSE) on Tuesday. The stock, TCX, recorded the highest price and the largest market capitalization in the Vietnamese securities sector.
Finance - Tue, October 21, 2025 | 10:27 pm GMT+7
Indonesia’s palm oil industry becomes investment magnet
Indonesia’s palm oil sector attracted IDR52.7 trillion, or approximately $3.2 billion, in investment during the first nine months of this year, with the money going into enabling the country to capture more value out of its top commodity, the country’s Ministry of Investment reported.
Southeast Asia - Tue, October 21, 2025 | 9:34 pm GMT+7
Indonesia reports strong job, investment growth
The Indonesian Coordinating Ministry for Economic Affairs reported strong job and investment growth during the first year of President Prabowo Subianto’s administration, compared with the first year under his predecessor.
Southeast Asia - Tue, October 21, 2025 | 9:29 pm GMT+7
Singapore grants conditional approval for 1GW low-carbon power import from Malaysia
Singapore has granted conditional approval to import 1 GW of low-carbon electricity from the Malaysian state of Sarawak, marking a new phase in the energy partnership between the two countries.
Southeast Asia - Tue, October 21, 2025 | 9:26 pm GMT+7
Margin lending in Vietnam’s stock market hits record, but not worrisome
Despite margin debt in Vietnam’s stock market surging sharply, experts believe that current margin pressure is not yet a major concern as top securities firms have significantly strengthened their capital buffers.
Finance - Tue, October 21, 2025 | 4:23 pm GMT+7
Lenders in Vietnam now in low-rate lending race: ACB exec
The biggest “headache” for banks in Vietnam now is that profit margins are getting thinner, said CEO of Asia Commercial Bank (ACB) Tu Tien Phat.
Banking & Finance - Tue, October 21, 2025 | 4:00 pm GMT+7
PV Gas - 35 years of innovation and technological leadership in Vietnam’s gas industry
Over the past 35 years of establishment and development (1990-2025), PV Gas, a subsidiary of state-owned giant Petrovietnam, has affirmed its pioneering position in Vietnam’s gas industry, marked by a series of groundbreaking achievements in science and technology.
Companies - Tue, October 21, 2025 | 3:45 pm GMT+7
Vietnam's consumer finance major F88 achieves 90% of year's profit target after 9 months
F88 Investment JSC (F88), a leading consumer finance company in Vietnam, reported a cumulative pre-tax profit of VND603 billion ($22.88 million) in the first nine months of 2025, a 2.5-fold increase year-on-year, reaching 90% of its full-year target of VND673 billion.
Companies - Tue, October 21, 2025 | 3:15 pm GMT+7
Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery
With Q3 earnings season underway, results are expected to come in broadly in line with expectations. Financials should remain the largest contributors, benefiting from credit expansion and trading activity, while real estate continues to recover as project launches and sales rates improve, writes Tung Dang, associate director at Dragon Capital.
Economy - Tue, October 21, 2025 | 2:33 pm GMT+7
Inland port opens in southern Vietnam province Tay Ninh, set to become border logistics hub
The 16.5-hectare Tan Cang-Moc Bai inland port in Tay Ninh province, southern Vietnam has been opened, offering logistics services and handling customs clearance for imports and exports.
Infrastructure - Tue, October 21, 2025 | 12:03 pm GMT+7
State-managed property trading centers will help curb speculation, price manipulation: expert
Establishment of state-managed real estate trading centers is expected to create a transparent transaction channel, helping control and limit speculation and price manipulation in the Vietnamese market.
Real Estate - Tue, October 21, 2025 | 8:37 am GMT+7
Vietnam's benchmark VN-Index records sharpest drop in 25-year history
VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), saw the sharpest decline in its 25-year history on Monday, down by 94.76 points, or 5.47%, to 1,636.43.
Finance - Mon, October 20, 2025 | 5:49 pm GMT+7
Construction contractor Coteccons sets record FY2026 targets, capital base hike via share issue
Coteccons Construction JSC (HoSE: CTD), one of Vietnam’s largest construction contractors, has set ambitious targets for its fiscal year 2026, driven by a record order backlog and its push into international markets.
Companies - Mon, October 20, 2025 | 4:50 pm GMT+7
Real estate, gold markets to be fully established by 2026: Prime Minister
Vietnam plans to complete comprehensive legal framework for its financial, real estate, and gold markets by 2026 as part of a broader effort to modernize market infrastructure and accelerate economic growth, said Prime Minister Pham Minh Chinh.
Finance - Mon, October 20, 2025 | 3:33 pm GMT+7
Vietnam breaks ground on nation’s most advanced domed stadium in Hung Yen province
Vietnam’s Ministry of Public Security has broken ground on a 60,000-seat domed stadium in the northern province of Hung Yen, set to become the country’s most technologically advanced sports venue.
Society - Mon, October 20, 2025 | 2:48 pm GMT+7




















