Binfast will acquire solid-state batteries by 2024.

As Vinfast prepares to launch its first electric vehicle in the U.S. by the end of the year, the company is already looking ahead to the next generation of EVs.

The Vietnamese automaker announced Wednesday that it has signed an agreement with Taiwanese battery technology startup ProLogium to supply solid-state batteries, a technology that promises longer range, shorter charging times, and improved safety compared to the liquid batteries currently in use

The company said that it has signed an agreement to supply solid-state batteries.

The agreement also includes an investment in ProLogium by Winfast. [ProLogium Chairman and CEO Vincent Yang said in a statement, "Together, ProLogium and Vinfast will launch smart electric vehicles powered by our market-leading next-generation solid-state battery technology. ProLogium's Chairman and CEO, Vincent Yang, said, "We are pleased to be working with Vinfast. We are a leading innovator of battery technology with already proven manufacturing capabilities and aim to be a major driver of a sustainable world through high-performance, safe and affordable technology."

Vinfast and Prologium plan to develop battery packs using Prologium's solid-state batteries, the first of which will be supplied to Vinfast in 2024. The batteries will be supplied from a plant that Prologium is building in Taiwan, scheduled to open in early 2023. The two companies are also considering establishing a joint venture for a battery plant in Vietnam. Vinfast already has its own battery plant in Vietnam, which was built in 2021.

Vinfast, which is planning an IPO in the US, announced plans in March to build a factory in Chatham County, North Carolina. The plant, which will be Vinfast's first outside of Vietnam, will be used to produce both EVs and batteries.

The North Carolina plant is expected to open in 2024, with the first vehicles confirmed to be the mid-size VF 8 and full-size VF 9 electric SUVs. The plant will also eventually be used to build electric buses.

The VF 8 and VF 9 will be the first Vinfasts to be sold in the U.S. The vehicles will initially be sourced from Vietnam. Prices will start at $41,000 and $56,000, respectively, but owners will need to sign up for a battery subscription plan. Subscription plans are based on mileage and start at $35/month, with $110/month for the VF 8 and $160/month for the VF 9 for owners who want unlimited mileage.

Vinfast will first focus on California, where the first of 30 company-owned stores will open next week.