FILE PHOTO: VinFast electric vehicles are parked before delivery to their first customers at a store in Los Angeles, California, U.S., March 1, 2023. REUTERS/Lisa Baertlein/File Photo
HANOI (Reuters) - Vietnamese electric vehicles (EV) maker VinFast said on Monday it had signed a memorandum of understanding with Japan's Marubeni Corp to recycle used EV batteries.
VinFast will supply the used batteries and Marubeni will repurpose into what it said would be affordable Battery Energy Storage Systems (BESS) that were easy to manufacture, the Vietnamese firm said in a statement.
