Vietnamese automaker VinFast, which expects to launch two electrical automobiles within the U.S. market this yr, is partnering with Taiwanese battery startup ProLogium Technology on solid-state EV batteries for supply as early as 2024, VinFast stated in a press release.
VinFast, by mum or dad firm Vingroup, is investing “tens of millions of U.S. dollars” in ProLogium to assist the startup’s proprietary solid-state know-how, VinFast stated Wednesday.
It additionally signed a memorandum of understanding to safe battery provides from ProLogium for its next-generation automobiles, VinFast stated.
“VinFast has focused on investing and building strategic partnerships with leading companies in the industry and breakthrough technology companies,” stated Le Thi Thu Thuy, VinFast Global CEO. “ProLogium is one of our key partners, helping VinFast quickly master the supply of solid-state batteries.”
On its company web site, ProLogium says its solid-state batteries present increased vitality density and quicker charging than standard batteries, which use a liquid electrolyte somewhat than a strong materials.
“We are a major innovator in battery technology with already proven manufacturing capabilities and we aim to become a main driver for a sustainable world through high performance, safe and affordable technologies,” stated ProLogium CEO Vincent Yang within the information launch.
ProLogium is one among a number of startups engaged on solid-state battery know-how, which might considerably cut back EV manufacturing prices. They embody Colorado-based Solid Power with funding from Ford Motor Co. and BMW, and California-based QuantumScape backed by Volkswagen.
“ProLogium plans to provide solid-state battery cells to VinFast starting from 2024 to support its next generation lineup,” VinFast stated. “ProLogium’s first major solid state battery plant, which is slated to launch in early 2023, will devote a significant portion of the facility’s production capacity to supply VinFast.”
The automaker stated it could additionally set up a three way partnership with ProLogium for a battery manufacturing facility in Vietnam.
VinFast is a brand new automaker that started producing combustion-engine automobiles for its dwelling market in 2019 based mostly on know-how from BMW. The automaker is phasing out combustion engines in favor of newly developed EVs because it expands to international markets, beginning with the U.S., Canada and Europe.
VinFast is taking U.S. orders on its midsize VF 8 and VF 9 crossovers, with anticipated deliveries by the top of the yr. VinFast delivered its first EV in Vietnam in December, however that mannequin was smaller than the two-row and three-row crossovers coming to the U.S. and Canada.
In March, VinFast stated it’s going to construct an electrical car meeting plant and battery manufacturing facility in North Carolina. VinFast stated it’s going to break floor on the preliminary $2 billion plant this yr and start manufacturing in 2024.