Vo Quang Hue, Deputy CEO of Vingroup (L) and Jong Hyun-kim (R) from LG Chem Ltd at the signing ceremony (Source: VNA) Hanoi (VNA) – VinFast Trading & ProductionLtd. and LG Chem Ltd., a subsidiary of LG Corporation of the Republic of Korea(RoK), on September 7 signed a memorandum of understanding (MoU) on theproduction of batteries that meet international standards and environmentallyfriendly criteria.
The partnership will provide batteries for all products inthe ecosystem of VinFast – a subsidiary of Vingroup, including scooters,electric cars and buses, smart phones and other products in the future. In theshort term, the cooperation will focus on producing batteries for VinFast’se-scooters.
Accordingly, VinFast will be responsible for building workshopand installing production lines at the company’s Supplier Park located in thenorthern port city of Hai Phong, ensuring that the facility will be operationalin the second quarter of 2019.
Meanwhile, LG Chem will provide technologies for batteryproduction and personnel training.
Vo Quang Hue, Deputy CEO of Vingroup, said the partnershipis an important initial step for VinFast in particular and Vingroup in general tograsp global advanced technologies in order to produce premium products andcontribute to the development of Vietnam’s support industry.
LG Chem Ltd. is the RoK’s largest multi-sector chemicalcompany which specialises in petrochemical, IT and electronic materials, andenergy solution.
With over 20 years’ experience in battery production, LGChem has affirmed itself as one of the world’s leading Lithium-ionmanufacturers. The company is the primary supplier of lithium batteriesthroughout the world for mobile phone and hybrid/electric vehicle industriesand energy storage system.-VNA
VNA
