LG Chem to supply batteries to Vietnam
LG Chem has agreed to deliver batteries for electric scooters produced by the Vietnamese startup VinFast. The latter is part of the Vingroup that also makes smartphones and electric buses which will also use LG Chem batteries.
The MoU goes beyond simple supply of batteries. VinFast said it will be responsible to ready their factory in the northern port city of Haiphong to ensure that operations can start in the second quarter of next year.
LG Chem will then provide technologies for battery manufacturing and training of employees at VinFast’s plant complex. While the deal prioritises batteries for VinFast electric scooters, LG Chem will eventually supply the entire ecosystem of the Vingroup with batteries.