Samsung SDI partners with Selex Motors to make electric vehicle batteries in Vietnam
Selex Motors and Samsung SDI on Friday inked a strategic partnership memorandum for the development of electric motorcycle batteries.
Under the agreement, Samsung SDI will become a strategic battery cell supplier for Selex Motors, producing electric motorcycle batteries for the Selex smart electric motorcycle ecosystem.
Selex Motors will also create and supply Samsung SDI battery cells for other partners in the Vietnamese and Southeast Asian markets.
Both parties hope to extend the battery swap network that Selex is pioneering into an essential shared energy infrastructure in Vietnam and the region.
As a result, Selex Motors has become Samsung SDI's first official partner in Vietnam to collaborate in providing battery cells while developing the market in Vietnam and Southeast Asia by promoting both sides' strengths.
Samsung SDI is a member of South Korea's Samsung Group and one of the world's leading manufacturers and suppliers of lithium-ion batteries, solar panels, and energy storage systems. Samsung SDI has provided battery cells to many major worldwide companies including BMW, Audi, Volkswagen, Ford, Hyundai, and GM Motors.
To collaborate with Selex Motors, Samsung SDI spent more than a year assessing the product design quality, technological capabilities, production lines, and development prospects of the Vietnamese electric motorcycle brand.
Speaking at the ceremony, Nguyen Huu Phuoc Nguyen, general director of Selex Motors, stated that working with Samsung SDI to develop and deliver electric motorcycle batteries in Vietnam and the region is a significant milestone for Selex Motors.
"This indicates the trust of a global partner in Selex Motors and the Vietnamese electric vehicle sector. This is also a significant step forward for the company's dedication to product safety and quality of the highest standard. We hope to work with Samsung SDI in the near future to provide the best electric vehicle battery products for the Vietnamese and Southeast Asian markets,” said Nguyen.
Lee Joon-Seo, sales director of Samsung SDI in Southeast Asia, said that even though Selex Motors is a start-up firm, it has considerable technological depth and development potential.
"Selex's manufacturing line, design, and product quality all satisfy the criteria we set when looking for partners. We are particularly impressed with Selex Motors' shared battery swap solution and look forward to collaborating to advance its development in Vietnam and Southeast Asia," said a Samsung SDI representative.
Selex Motors is currently the first electric vehicle firm to establish a network of shared battery exchange stations in both Vietnam and Southeast Asia.
Selex Motors' innovation allows electric motorcycle owners to charge their batteries for 150 kilometers in just two minutes. Furthermore, using proprietary technology, Selex Motors' batteries are compatible with more than 70% of electric motorcycles on the market today.
- Read More
Retail major Saigon Co.op ships Vietnamese vermicelli, spices to US
A consignment of two containers with dipping sauce, vermicelli, noodles, spices, tea and coffee worth nearly $70,000 was shipped to the U.S. Wednesday.
Companies - Thu, October 24, 2024 | 6:32 pm GMT+7
Lotte Group’s land use fees for HCMC project estimated at $633 mln
South Korea’s Lotte Group will have to pay VND16 trillion ($633.3 million) in land use fees in the fourth quarter of 2024 as estimated by the HCMC Department of Natural Resources and Environment (DoNRE).
Real Estate - Thu, October 24, 2024 | 6:01 pm GMT+7
'Most beautiful coffee factory globally' and the man who refused opportunity to earn millions of US dollars from Phu My Hung urban land
Forteen years ago, instead of spending VND5 billion ($196,810) to buy land, Phuc Sinh Group invested in ESG (environment, society, and governance) initiatives, and then lost everything. But the choice is still correct, writes Phan Minh Thong, chairman of Phuc Sinh Group.
Companies - Thu, October 24, 2024 | 5:43 pm GMT+7
Russia willing to help Vietnam build large nuclear power plant: Deputy PM
Russia is ready to participate in the construction of a large nuclear power plant and land-based or floating small modular reactors in Vietnam, says Russian Deputy Prime Minister Alexander Novak.
Energy - Thu, October 24, 2024 | 4:49 pm GMT+7
Vinhomes buys 19 mln shares on first day of record-breaking buyback scheme
Vinhomes JSC, the residential housing arm of private conglomerate Vingroup, bought 19.12 million shares on Wednesday, the first day of its largest-ever buyback plan on Vietnam’s stock market.
Finance - Thu, October 24, 2024 | 4:40 pm GMT+7
China e-commerce giant Temu begins Vietnam sales, unlicensed
Temu, the e-commerce platform under China’s PDD Holding, has been selling products in Vietnam since early October, but it has not registered its operations, according to the Ministry of Industry and Trade.
Companies - Thu, October 24, 2024 | 4:30 pm GMT+7
Samsung to invest additional $1.8 bln for making OLED products in Vietnam
Samsung Display Vietnam (SDV) will invest $1.8 billion in making OLED (organic light-emitting diode) products for information technology (IT) equipment and vehicles in Vietnam.
Industries - Thu, October 24, 2024 | 1:56 pm GMT+7
Amkor, Synopsys, Intel among big names attending Vietnam’s first semiconductor expo
Many international and Vietnamese tech giants will attend the first semiconductor exhibition in Vietnam next month as the country seeks to increase its footing in the global supply chain.
Companies - Thu, October 24, 2024 | 1:53 pm GMT+7
Suntory Pepsico Vietnam aims to increase Long An factory’s output by 50%
Suntory Pepsico Vietnam Beverage (SPVB) plans to increase the annual output of its under-construction factory in the southern province of Long An by 56% to 1.24 billion liters.
Companies - Thu, October 24, 2024 | 11:10 am GMT+7
Public Bank Securities Vietnam to hike capital 7-fold after acquisition deal
Public Bank Securities Vietnam Company Limited says it will increase its charter capital by 7.4-fold four months after Public Bank Vietnam (PBVN) completed acquiring the broker from its Malaysian compatriot RHB Investment Bank (RHBIB).
Finance - Thu, October 24, 2024 | 10:12 am GMT+7
Thailand’s gas station businesses focus on non-oil services to attract customers
Competition in the gas station business in Thailand is heating up as companies continuously seek new services to attract customers, reflected through the opening of cafés at stations of the country’s four leading fuel companies.
Southeast Asia - Thu, October 24, 2024 | 9:33 am GMT+7
Dragon fruit instant noodles maker gets $1 mln investment on TV show
Caty Food JSC, a maker of dragon fruit instant noodles, has received a $1 million investment from "shark" Nguyen Hoa Binh, chairman of NextTech Group, in exchange for 10% equity.
Companies - Thu, October 24, 2024 | 8:14 am GMT+7
UK energy supply chain businesses explore opportunities in Vietnam
A green energy trade mission is on a visit to Vietnam to better understand the opportunities in Vietnam and connect with potential partners.
Energy - Wed, October 23, 2024 | 11:46 pm GMT+7
Indonesia aims to become global hub of Halal industry
Indonesia, one of the countries with largest population of Muslims in the world, has great potential and opportunity to become a major producer of halal products in the world.
Southeast Asia - Wed, October 23, 2024 | 11:24 pm GMT+7
Malaysia's economic reforms boost investment inflow
Malaysia has attracted substantial foreign investments, reaching MYR 22.2 billion ($5.16 billion) in the third quarter of 2024, the highest level for the same period since 2012, according to the UOB's Global Markets and Economics report.
Southeast Asia - Wed, October 23, 2024 | 11:22 pm GMT+7
Thai commercial banks slash lending rates to ease borrowers’ financial burden
Large local banks have announced reductions for their prime lending interest rates following the Bank of Thailand's (BoT) policy rate cut, aiming to ease the financial burden for borrowers.
Southeast Asia - Wed, October 23, 2024 | 11:21 pm GMT+7