S.Korea’s SoluM joins Vietnam's largest EV charging project

SoluM Co., a South Korean mid-sized electronic component maker, said on Wednesday that it signed an agreement with PetroVietnam Power Corporation, a Vietnamese state-owned enterprise, to expand the electric vehicle (EV) charging market in Vietnam.

Under the agreement, SoluM will develop battery management systems (BMS) and energy storage systems (ESS) for mass production from next year, in addition to supplying fixed and mobile EV chargers to major areas in Vietnam this year. SoluM also plans to build EV charging stations based on a "battery exchange system" throughout the country.

SoluM was selected as a partner due to its core capabilities in power conversion technology, communications technology, and software. The company plans to expand the EV charging business based on its existing power module business. "Starting with participation in PetroVietnam's national project, we will expand our electric vehicle charging business and nurture it as a strong growth engine," said Jun Sung-ho, CEO of SoluM.

Write to Byung-Keun Kim at bk11@hankyung.com