VinFast partners with Gotion High-Tech in LFP battery cell R&D

VinFast LLC and Gotion High-Tech Co., Ltd (China) – a reputable name in the global clean energy sector – signed an MoU, focusing on the procurement of Gotion LFP batteries and discussion of the possibility to establish a Giga Factory – the first-ever LFP battery cell production facility in Vietnam.

HANOI, VIETNAM – Media OutReach – 23 August 2021 – According to their agreement, VinFast and Gotion
High-Tech will jointly carry out the R&D and production of lithium iron
phosphate (LFP) batteries.

LFP battery is currently the most mainstream battery
technology in the global new energy vehicle market, with unique advantages of
high safety and long life. It is worth noting that LFP batteries can be
produced without using expensive and rare materials such as cobalt and
manganese that are harmful to workers and the environment. In addition, the
price of LFP batteries is competitive, which reduces the production cost of
electric vehicles, especially small and medium-sized vehicles.

Gotion High-Tech is a leading manufacturer of LFP
batteries for electric vehicles, energy storage systems, and other applications
in China and across the world. The company has also had many years of experience
in battery research & development and boasts thousands of patents and
licensed technological applications. So far, Gotion High-Tech has founded 8
R&D centers in China, the US, Japan, Singapore, Germany and India.

Chairman of Gotion High-Tech Mr. Zhen Li shared: “Gotion
High-Tech will definitely use its cutting-edge technology and rich experience
in battery manufacturing to fully support VinFast’s electrification strategy.
VinFast electric models equipped with Gotion batteries must also be popular
among consumers. Let us work together to advance the development of the new
energy industry and accelerate the realization of the goal of “carbon
neutrality” between China and Vietnam and the world.”

For VinFast, exploring the local production of LFP
batteries in Vietnam is part of the car maker’s efforts to establish a clean
energy ecosystem and localize parts supply.

“The
collaboration with such a prestigious battery manufacturer in the world as
Gotion is among VinFast’s essential action plans for developing its smart
electric cars and complete supply chains. Our ultimate objective is to
establish a clean energy ecosystem, contributing to cutting carbon emissions in
Vietnam as well as in VinFast’s global markets.” – said Thai
Thanh Hai, Vice Chairwoman of Vingroup.

To reinforce its electrification strategy, VinFast has
been fostering collaborations with a number of prestigious partners around the
world, including those from Israel, Taiwan, the US, etc., These ties are aimed
at boosting R&D and application of the most advanced battery technologies,
such as solid-state battery, extreme fast charging, new materials, new battery
designs, etc. These technologies are expected to allow new batteries with high
energy density, longer ranges for EVs, superior safety, longer lifespan, cost
optimization and eco-friendliness.

In addition, Vingroup has recently established VinES
Energy Solutions JSC focusing on research and manufacture of batteries for
electric vehicles. VinFast also has plans to build production facilities for
battery and charging equipment in the US and Europe, as part of its global
expansion strategy.

By taking drastic actions, VinFast is gradually
realizing the goal of becoming a leading global electric vehicle company and
affirms its strong commitments to speeding up the trend of green transportation
around the world.