TAIPEI/HANOI: Vietnam's largest conglomerate Vingroup said on Friday its car unit was in early stage talks with Taiwan's Foxconn about working together and that any partnership formed would focus on developing batteries and electric car parts.
"Vingroup has received proposals from Foxconn but nothing is concrete yet. The partnership, if any, will focus on developing the batteries and electric car parts," a spokesman for Vingroup said.AdvertisementThe world's largest contract manufacturer and Apple Inc supplier has outlined plans to become a major provider of parts and services in the global EV market and any agreement with VinFast would follow deals with Fiat Chrysler and EV startups.
VinFast became Vietnam's first fully fledged domestic car manufacturer when its first gasoline-powered models built under its own badge hit the streets in 2019. Seeking to provide components or services to 10per cent of the world's electric vehicles as early as 2025, Foxconn has moved quickly to clinch a number of deals. One of its biggest is an agreement with Zhejiang Geely Holding Group to provide contract manufacturing for other automakers.
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