Masan boss reveals about electric vehicle battery production

On April 24, at the 2023 Annual General Meeting of Shareholders of Masan Group Corporation, in response to questions from shareholders, Mr. Craig Bradshaw, CEO of Masan High-Tech Materials (MHT) said that the company has invested heavily in Nyobolt Limited (Nyobolt), a company specializing in providing fast-charging Li-ion battery solutions.

Mr. Truong Cong Thang, General Director of Masan Consumer (MCH)

According to the CEO, test results show that the battery only needs to be charged up to 90% in 5 minutes instead of the usual 4-hour waiting time.

“In the future, the charging time of an electric car will be the same as the time it takes to fill up a tank of gasoline, taking 5-10 minutes, and users will not have to worry about running out of battery. We have a source of tungsten minerals, production technology in hand, and a clear business strategy,” said Mr. Craig Bradshaw.

Responding to shareholders about the possibility of cooperation and supplying electric vehicle batteries between MHT and Vinfast , Mr. Craig Bradshaw said that the two sides have not had any discussions.

Nyobolt's target customers will be companies that manufacture high-power industrial electric vehicles, automation equipment (robotics), consumer appliances, cordless tools, energy storage systems and mobile fast charging.

In 2023, Masan Group expects consolidated net revenue to reach VND90,000-100,000 billion, corresponding to growth rates of 18% and 31% respectively compared to revenue of VND76,189 billion in 2022.

The CrownX is still expected to be the main revenue growth driver with a contribution of more than 70% to net revenue this year.

Also at the congress, Mr. Truong Cong Thang, General Director of Masan Consumer (MCH) introduced the Hanoi beef and crab hotpot package. Users do not need hot water or a gas stove, just add water, and after about 5-10 minutes, the food in the hotpot package will boil automatically.

From 2023-2027, Masan Consumer aims for revenue of VND80,000-100,000 billion. Of which, the domestic market accounts for 85%, the foreign market accounts for 15% (currently at 3-4%).

Masan Group plans to attract 19,000 billion VND, revenue increases sharply Masan Group (MSN), chaired by Mr. Nguyen Dang Quang, plans to attract a large amount of money, worth nearly 1 billion USD, and continue its breakthrough growth plan in the difficult year of 2023.

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