Austrian & Vietnamese EV Battery Pack Joint Venture
Vietnam's VinFast Manufacturing & Trading Co., Ltd. announced a cooperation agreement with Austria's Kreisel Electric for the development of a battery pack solution for electric cars and buses that will be manufactured at the VinFast factory in Vietnam. Reasons that led to the decision for Kreisel were high quality, light weight, high safety and durability criteria.
As a result of the cooperation with Kreisel, VinFast expects to speed up its production of electric cars and buses, allowing it to market its electric vehicles based on Kreisel technology in 2020.
A subsidiary of Vingroup, VinFast is Vietnam's first high volume automotive manufacturer, and will be the first ever to participate in a major international motor show. It is developing and manufacturing its own range of innovative, world-class vehicles.
VinFast is working with leading European design, engineering and component businesses to create products that meet international standards and customer expectations in terms of premium design, quality, dynamics, in-car features and ownership experience.
Deliveries of the first VinFast cars - a large saloon and a large SUV, both designed by Pininfarina - will commence in Vietnam from September 2019. These will be followed by a city car and a battery electric vehicle, as well as an electric bus, with exports to selected markets worldwide planned in the coming years.
All VinFast cars will be manufactured at a purpose-built, 335-hectare plant in Hai Phong, northern Vietnam, which represents an initial $1.5 billion USD investment. This facility will manufacture a range of electric scooters as well as passenger cars.
As a pioneer in the field of batteries and energy solutions for electric vehicles, Kreisel Electric is currently one of the most renowned companies in the new energy industry. Kreisel Electric's products stand out for compactness, good heat dissipation, high safety, fast charging and long battery life while manufactured at low cost.
"We believe that Kreisel Electric provides trend-setting solutions for VinFast's electric cars and will contribute in convincing consumers with quality and safety," said Le Thi Thu Thuy - vice president of Vingroup and chairwoman of VinFast.
Kreisel Electric GmbH & Co KG offers innovative system solutions for e-mobility and stationary applications and develops the world's lightest and most efficient high-performance batteries. The company's projects now range from passenger cars, buses and trucks to boats and airplanes as well as stationary storage solutions.