Vehicle OEM VinFast, part of the Vingroup, has invested “tens of millions” of US dollars in solid-state battery developer ProLogium.
VinFast also entered into a Memorandum of Understanding (MoU) with ProLogium for strategic cooperation arrangements that lays out plans to provide solid-state battery cells to the Thailand vehicle OEM from 2024.
Along with the investment, the companies will become long-term strategic partners and enter into commercial agreements to develop battery pack designs using the ProLogium’s proprietary solid-state battery technology.
ProLogium’s first major solid-state battery plant is due to be commissioned in early 2023, and will devote a “significant portion” of the facility’s production capacity to supply VinFast.
In the future, ProLogium and VinFast may also establish a joint-venture solid-state battery factory in Vietnam.
In 2021, Vingroup invested more than VND4 trillion ($171 million) to construct the VinES battery factory in Vung Ang, Ha Tinh, Vietnam to produce battery packs and battery cells for its electric vehicles.
The company is planning to build a manufacturing plant in North Carolina, US with an initial investment of $2 billion in Phase 1.
The US plant will become the manufacturing and production facility for electric cars and e-buses as well as housing other ancillary industries.