Vietnam-based electric vehicle manufacturer VinFast and China-based Gotion High-Tech will jointly carry out R&D and production of lithium iron phosphate (LFP) batteries. LFP batteries, which offer high safety and long life, can be produced without using expensive and rare materials such as cobalt and manganese.
In addition, the price of LFP batteries is competitive, which reduces the production cost of electric vehicles, especially small- and medium-sized vehicles.
VinFast currently produces several models of electric scooters and buses in Vietnam, and will launch three new electric SUVs—VF e34, VF e35 and VF e36 respectively of C, D and E classes—in Vietnam, North America and Europe in 2021 and 2022.
Gotion High-Tech is a leading developer and manufacturer of LFP batteries for electric vehicles, energy storage systems, and other applications in China and across the world. Gotion High-Tech has founded 8 R&D centers in China, the US, Japan, Singapore, Germany and India.
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.
To reinforce its electrification strategy, VinFast has been fostering collaborations with a number of 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.
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.