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THE INVESTOR
August 04, 2020
Big Reunion

Industrials

LG Chem batteries to power Vietnam’s first-ever EV

  • PUBLISHED :June 03, 2020 - 16:19
  • UPDATED :June 03, 2020 - 16:19
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LG Chem said on June 3 it will power Vietnam’s first-ever electric vehicle, which can travel up to 500 kilometers on a single charge.

According to LG Chem and local media, Vietnam’s first domestic carmaker VinFast will load its first EV models with lithium-ion batteries manufactured by LG Chem.

“We expect to officially debut the model at the Los Angeles Auto Show in November 2020; launch a test program in January 2021 and mass produce the cars by July 2021,” a VinFast official said. 

VinFast’s first EV on the road (Reuters)



“Though LG Chem can’t reveal the exact battery type VinFast will use, it mainly sells NCM (nickel cobalt manganese) 523 and NCM 622 batteries,” a company official said.

LG Chem signed a memorandum of understanding with VinFast in September 2018 and set up a joint venture with the company in April last year to produce lithium-ion batteries for the automaker’s electric scooters and EVs.

VinFast sold 5,124 cars in the local market in the first quarter this year, putting it in fifth place and ahead of brands that include Mitsubishi, Mazda and Ford, according to local media. 



By Kim Byung-wook (kbw@heraldcorp.com)

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