Foxconn in talks with VinFast on batteries and components for electric vehicles

Sunday, Mar 21, 2021 14:03

Inside VinFast's factory. — Photo courtesy of VinFast

Taiwanese electronics manufacturer Foxconn is reportedly in talks with the Vietnamese automaker VinFast to produce batteries and electric vehicle (EV) parts.

Reuters cited sources saying that Foxconn proposed to acquire EV production lines from VinFast. However, a spokesperson for VinFast said they had not discussed any details relating to this matter.

"The partnership, if any, will only focus on developing the batteries and electric vehicle parts. There is no information regarding the cooperation of the two parties in producing EVs,” the spokesman added.

VinFast wants to become Foxconn's partner but not in manufacturing orders.

Foxconn, the world’s largest provider of electronics components, has outlined plans to become a major provider of parts and services in the global EV market, so any agreement with VinFast would follow deals with Fiat Chrysler and other EV start-ups.

VinFast became Viet Nam’s first domestic vehicle manufacturer with its own badge to debut the first gasoline-powered models in 2019. The automaker has a factory in the northern port city of Hai Phong which is also responsible for main production.

The company sold about 30,000 vehicles last year and is expected to deliver the very first EVs to the domestic market at the end of 2021.

VinFast, which is also producing electric motorbikes and buses this year, signed a contract to produce electric vehicle batteries with Taiwan’s ProLogium. — VNS

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