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Vietnam's VinFast eyes fast-charge batteries to boost EV goals

Vingroup unit plans to open battery plants in US and Europe

Machines work on a car at the VinFast manufacturing complex in Hai Phong, northern Vietnam.   © Vingroup

HO CHI MINH CITY -- Vietnam's Vingroup is betting electric vehicles that can charge in minutes will help win over skeptical drivers as it seeks to enter the U.S. and European markets.

The company's VinFast auto division, which is weighing a public offering in the U.S., said it is working with StoreDot of Israel on "extreme fast-charging batteries" for electric cars. StoreDot says it is the first company in the world to make electric scooter batteries that recharge in five minutes and hopes to bring the technology to full-size cars to eliminate drivers' "range anxiety."

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