Vietnamese automaker VinFast, through a company in the wider Vingroup, has announced a “tens of millions of US dollars” investment in ProLogium, a solid state battery manufacturer.

VinFast also entered into a memorandum of understanding (MoU) with ProLogium setting out strategic cooperation arrangements to secure future solid state battery supplies with the goal of expanding availability of its “smart mobility” products worldwide.

Along with the investment in ProLogium, VinFast and ProLogium will become long-term strategic partners in the future. The two companies will enter into commercial agreements to develop battery pack designs using Prologium’s proprietary solid state battery technology for VinFast.

Under the strategic cooperation arrangements, ProLogium plans to provide solid state battery cells to VinFast from 2024. Its first major solid state battery plant, expected to be ready early in 2023, will devote a significant portion of its capacity to supply VinFast.

In the future, ProLogium and Vinfast may also establish a joint venture solid state battery factory in Vietnam.

Vinfast said in a statement: “Solid state batteries are among the most promising technologies to offer advantages in terms of safety, energy density, hyper fast charging capability, recyclability, weight optimisation, costs, and lifetime.

“Through this strategic arrangement, VinFast aims to secure battery supply with world leading technology, enhance control over the quantity and type of its battery supply to meet the needs of each [ of our EV model lines] and market demand for high tech, high performance, safe, and environmentally friendly batteries.”