The People's Committee of Phu Tho province recently met with representatives from LG Energy Solution (LGES). Lee Jin Woo, senior director at the company, discussed investment options through official development assistance (ODA).

LGES hopes to collaborate with Vietnamese businesses to invest in electric motorbike charging and battery swapping stations in Phu Tho. The goal is to contribute to the development of an electric two-wheeler (E2W) ecosystem and support greenhouse gas emission reduction.

Lee Jin Woo also stated that the company is exploring investments in an electric motorbike and charging station factory in the province through ODA in the medium and long term. In addition, artificial intelligence (AI) is another area the company prioritizes for collaborative development.

Tran Duy Dong, chairman of the provincial People's Committee, directed the provincial Investment Promotion and Support Center and the Department of Finance to create the most favorable conditions for LGES to invest in the locality.

LG Energy Solution was South Korea's first lithium-ion battery manufacturer in 1999 and is now among the world's leading electric vehicle battery manufacturers. The company supplies batteries to many global automakers, including Ford, Chrysler, Audi, Renault, Volvo, and SAIC Motor. It also supplies products to Tesla, General Motors, and Hyundai. LGES also manufactures batteries for laptops, smartphones, and smartwatches.

Phu Tho province plans a total of 57 industrial parks by 2030, covering nearly 13,400 hectares, of which 16 projects are already operational. By the end of 2024, the province had attracted 720 foreign direct investment (FDI) projects, mainly from South Korea and Japan, with a total registered capital of about 12.5 billion USD.

Ngoc Diem