LG Energy Solutions will supply cylindrical battery cells for electric buses to Kim Long Motors in Vietnam.
On August 28, LG Energy Solutions announced that it had signed a Memorandum of Understanding (MOU) with Kim Long Motors in Hue, Vietnam, for the supply of cylindrical battery cells for electric buses.
G Energy Solution Small Battery Division's Choi Hyuk Asia Manager and Kim Long Motors' Ho Cong Hai CEO are signing a Memorandum of Understanding (MOU). Photo by LG Energy Solution
Kim Long Motors is an automotive subsidiary of Phu Ta Group, a leading transportation company in Vietnam. The company primarily manufactures buses at its plant, which was completed in February last year, and is currently constructing a passenger car factory with an annual capacity of 50,000 units, aiming to begin production in the first quarter of next year.
With this MOU, LG Energy Solutions has secured a new customer and strengthened its position in the emerging electric vehicle market in Asia.
Industry experts believe that the battery type contracted between the two companies is likely the 46-series battery. The 46-series battery offers at least five times more energy and output compared to the conventional 2170 cylindrical battery. It is also noted for its superior space efficiency and price competitiveness, making it a new standard for next-generation cylindrical batteries.
Le Quang Dat, Vice Chairman of the Board at Kim Long Motors, stated, "Through our partnership with LG Energy Solutions, one of the world's leading battery companies, we will be able to secure a stable supply chain and rigorously manage quality. This will not only further enhance the competitiveness of Vietnam's electric vehicles but also serve as a stepping stone for Vietnam to become a hub for the clean energy industry in Asia and globally."
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