VinFast Signs MOU with CATL to Develop Affordable EVs

Vietnamese automaker VinFast has signed a memorandum of understanding (MOU) with China’s CATL to expand collaboration in several areas relating to e-mobility, including CIIC (CATL integrated intelligent chassis) skateboard chassis products.

Related: Vietnam’s VinFast has Set its Sights on the US market

CATL’s CIIC architecture integrates battery packs, electric motors and other core units into a single layer at the bottom of the vehicle. This approach is said to lower purchasing costs, vehicle weight and energy consumption, while also maximizing cabin space. The new agreement builds on the existing cooperation on battery supply with cell-to-pack (CTP) technology between both companies, which will help VinFast in its mission to push out more electric vehicles (EVs) to market.

VinFast said it will deepen its collaboration with CATL to further promote battery innovation and support its e-mobility transition. The Vietnamese company previously said it wants to go fully electric by the end of this year and has set a goal to sell 1 million EVs globally in the next five to six years. Commenting on the development, Le Thi Thu Thuy, Vingroup vice chairwoman and VinFast global CEO said:

“VinFast connects global intelligence to promote research and production of smart electric vehicles. Collaboration with CATL – a global leader of new energy innovative technologies – is the next development milestone of VinFast in applying advanced technology to enhance driving range and experience while offering competitive pricing, making smart electric vehicles more efficient and accessible to everyone.”

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