VinFast and LG Chem have formed a joint-venture for EV battery production. The partnership will provide batteries for all products in the Vingroup’s ecosystem, including electric scooters, electric cars and electric buses.
With this partnership agreement, the two companies will work closely together to produce premium products that meet international standards and environment-friendly criteria.
The partnership between VinFast and LG Chem reaffirms its commitment to producing electric vehicles with maximum battery performance, but at reasonable prices for Vietnamese consumers.
The collaboration will be located in VinFast’s Supplier Park in Hai Phong. Initially, VinFast will be responsible for the construction and production lines of the plant to ensure that it is ready for operation in Quarter II 2019. LG Chem will provide the required technologies for battery manufacturing and training of employees at VinFast’s plant complex.
Vo Quang Hue, Deputy CEO of Vingroup, said: “The partnership with LG Chem is an important initial step for VinFast in particular, and Vingroup in general, to get a grasp of the global advanced technologies in order to produce premium products and contribute to the development of Vietnam’s supporting industry”.