South Korea’s LS Eco Energy to invest US$49 million in Viet Nam ultracapacitor plant
VGP - LS Eco Energy, a subsidiary of South Korean cable and energy giant LS Cable & System, will produce ultra capacitors (UC) for AI data centers in Viet Nam.
UC is an energy storage device that quickly stores and supplies electricity to make up for momentary power shortages in Hydrogen Fuel Cell power generation systems.
The group said on the 26th that its Viet Nam manufacturing subsidiary will invest about 65 billion won (US$49 million) to build production facilities locally. The move is to support LS Materials' growing UC orders.
The Viet Nam subsidiary plans to begin mass production and supply in April next year. It is targeting annual sales of 150 billion won (US$113 million) by 2030.
LS Eco Energy Ltd. operates in the energy and advanced materials sector through subsidiaries such as LS Cable & System Viet Nam Co., Ltd., which manufactures ultra capacitor components.
The group focuses on supplying UC medium cells, a key technology for high-performance energy storage solutions, to meet growing demand in industrial and mobility applications.
Under Viet Nam's National Strategy on AI through 2030, with a vision to 2045, the nation strives to rank among the top three countries in Southeast Asia in AI research and development by 2030 and among the top 10 countries in Asia in AI research, development and mastery, as well as in nationwide AI transformation by 2045.
By 2045, Viet Nam targets to establish an AI and AI-native enterprise ecosystem with regional and international competitiveness and become an important regional and global center for AI research, development, production, and the provision of AI products, services and solutions./.