Hanoi, Vietnam, July 6, 2022
VinFast, through a company in Vingroup, today announced a tens-of-millions US dollars investment in ProLogium, a leading global manufacturer of next-generation solid-state batteries. VinFast also entered into a Memorandum of Understanding with ProLogium, setting out strategic cooperation to secure next-generation solid-state battery supply and support the expansion of its smart mobility solutions globally.
Through the investment, VinFast and ProLogium will become long-term strategic partners. The 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 for VinFast.
Under the strategic cooperation arrangements, ProLogium plans to provide solid-state battery cells to VinFast from 2024 to support its next generation line-up. ProLogium’s first major 3GWh 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.
Solid-state batteries are among the most promising technologies to offer advantages in terms of battery safety, energy density, hyper fast-charging capability, recyclability, weight optimization, costs, and lifecycle.
The partnership with ProLogium is an integral part of VinFast's battery strategy. Through this strategic arrangement, VinFast aims to secure the supply of world-leading technology, confirm an ability to optimise battery type for each VinFast EV, and fulfil market requirements for high-tech, high-performance, safe, and environmentally-conscientious batteries.
"VinFast has focused on investing and building strategic partnerships with leading suppliers, and also disruptive technology companies to efficiently integrate technologies that enable smart and sustainable mobility solutions," said Ms. Le Thi Thu Thuy, Vingroup Vice Chairwoman, and VinFast Global CEO. "ProLogium is one of our key partners, helping VinFast to 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."
VinFast, founded in 2017, is a global producer of premium automobiles and the latest core venture of Vietnam's leading private conglomerate, Vingroup. Along with its headquarters in Hanoi (Vietnam) and a network of operation offices in key markets across the US, Canada, and Europe, VinFast owns a state-of-the-art automotive manufacturing complex with world-leading scalability that boasts up to 90% automation.
In 2021, Vingroup invested more than 4 trillion VND to construct the VinES battery factory in Vung Ang, Ha Tinh (Vietnam), on eight hectares of land that produces battery packs and battery cells for VinFast electric vehicles.
The company has recently announced plans to construct a manufacturing plant in North Carolina (USA), with an initial investment of 2 billion USD in Phase 1, which will become the manufacturing and production facility for electric cars and e-buses as well as housing other ancillary industries.
"ProLogium and VinFast will together unveil smart electric vehicles powered by our market leading next-generation solid-state battery technologies," Mr. Vincent Yang, Chief Executive Officer and Chairman of ProLogium Technology said. "We are a major innovator in battery technology with already proven manufacturing capabilities. We aim to become a main driver for a sustainable world through high performance, safe and affordable technologies. We share this vision with our new partner, and together we will become a powerful force to deliver a more enjoyable and safer driving experience."
ProLogium’s manufacturing competence has been established since its first production line for consumer applications began operating in 2013, and has been further endorsed by an EV battery pilot line in October 2017. The battery maker has established more than 4,000 quality control items in its production processes and achieved 99.9% yield for its single-layer cell manufacturing and 94% yield for multi-layer cells. These results lay a solid foundation for its first 3 GWh mass production plant. To date, ProLogium has shipped more than 7,300 EV cells with 50 - 60 Ah capacity to worldwide automotive partners for verification, and more than one million cells have been delivered to customers for consumer applications.
ProLogium continues to develop and improve its next-generation battery technologies and manufacturing competence. Armed with a clear roadmap for technology development, long proven manufacturing processes, healthy supply chain strategic alliances, strong customer endorsement, and relentless innovation, ProLogium is spearheading the production of next-generation batteries to power the world for a greener future.
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ABOUT VINFAST
VinFast – a member of Vingroup – was envisioned to drive the movement of global smart electric vehicle revolution. Established in 2017, VinFast owns a state-of-the-art automotive manufacturing complex with globally leading scalability that boasts up to 90% automation in Hai Phong, Vietnam.
Strongly committed to the mission for a sustainable future for everyone, VinFast constantly innovates to bring high-quality products, advanced smart services, seamless customer experiences, and pricing strategy for all to inspire global customers to jointly create a future of smart mobility and a sustainable planet. Learn more at vinfastauto.com
ABOUT PROLOGIUM
Founded in 2006, ProLogium is a global leader in innovative next generation battery technologies for vehicle, consumer, and industrial applications. ProLogium is the first battery company in the world to mass-produce solid-state lithium ceramic batteries. Its proprietary technologies cover over 500 (applied or awarded) patents worldwide. ProLogium’s automated pilot production line has provided nearly 8,000 solid-state battery sample cells to global car manufacturers for testing and module development. ProLogium Technology’s GWh level solid-state lithium ceramic battery plant will be the first in the world to go online in early 2023, and it aims to begin scaling up by the second half of the year, followed by capacity expansion plans in major markets worldwide. Further information can be found at www.prologium.com
