VinFast partners and invests in Prologium for SSB
VinFast, through a company in Vingroup, has announced an investment in the tens of millions of US dollars in ProLogium (earlier post), a manufacturer of solid-state batteries. VinFast also entered 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 intelligent mobility solutions globally.
Along with the investment, VinFast and ProLogium will become long-term strategic partners in the future. The two companies will enter into commercial agreements to develop battery pack designs using Prologium's proprietary solid-state battery technology, adhering to strict specifications on the parameters, quality, and safety of VinFast.
ProLogium plans to provide solid-state battery cells to VinFast starting from 2024 to support VinFast's next-generation line-up. ProLogium's first major solid-state battery plant, 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.
Solid-state batteries are among the most promising technologies in terms of safety, energy density, hyper fast-charging capability, recyclability, weight optimization, costs, and lifetime.
The partnership with ProLogium is an integral part of VinFast's battery strategy.
Le Thi Thu Thuy, Vingroup Vice Chairwoman, and VinFast Global CEO said "VinFast has focused on investing and building strategic partnerships with leading companies in the industry and breakthrough technology companies to quickly grasp and apply technologies for smart and sustainable mobility solutions. ProLogium is one of our key partners, helping VinFast quickly master the supply of solid-state batteries while continuing to deliver EV products with advanced battery technology for a more enjoyable and safer driving experience."