Battery manufacturer receives multi-million investment
VinFast makes investment in the tens of millions of US dollars investment in ProLogium, a taiwanese manufacturer in next-generation solid-state battery.
VinFast also entered into a Memorandum of Understanding with ProLogium setting out strategic cooperation arrangements to secure next-generation solid-state battery supplies and support the goal of expanding its smart mobility solutions globally, a press release reads.
The two companies will enter into commercial agreements to develop battery pack designs using Prologiums proprietary solid-state battery technology.
ProLogium plans to provide solid-state battery cells to VinFast starting from 2024 to support its next generation line-up. 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.
In the future, ProLogium and VinFast may also establish a joint-venture solid-state battery factory in Vietnam.
