Doosan Corp. to expand production of EV materials in Vietnam

Doosan Corp. Electro-Materials BG CEO Yoo Seung-woo, left, poses with Hai Duong Director Trieu The Hung after signing an MOU to enhance collaboration in electronic materials in Hanoi, Vietnam, Friday. Courtesy of Doosan Corp.

By Kim Hyun-bin

Doosan Corp., a multinational conglomerate, is partnering with Hai Duong, a Vietnamese city near Hanoi, to explore new business opportunities based on the company's advanced electronic materials manufacturing technology, according to the company, Sunday.

Doosan announced that it has signed a memorandum of understanding (MOU) with Hai Duong, focusing on cooperation in the field of electronic materials.

The MOU signing ceremony, held as part of President Yoon Suk Yeol's state visit to Vietnam, was attended by Industry, Trade and Energy Minister Lee Chang-yang, Doosan Corp. Electro-Materials BG CEO Yoo Seung-woo and Hai Duong Director Trieu The Hung.

Under the agreement, Doosan plans to expand its patterned flat cable (PFC) production facility located in Hanoi and consider further investments to contribute to job creation and regional economic development. Hai Duong plans to support Doosan's investment by providing tax benefits and other incentives to ensure smooth progress.

Doosan established its Vietnamese subsidiary in 2020 and completed the construction of a factory for PFC mass production last October.

PFC is a next-generation electronic material that can replace copper wiring harnesses, which are essential for various parts of electric vehicles (EV) such as batteries, doors, seats and roofs. Applying PFC to EVs can reduce the weight and volume of copper wiring by over 80 percent, enabling reduced weight and cost and increased travel distance on a single charge. Reducing weight in EVs is considered a major industry challenge, increasing the significance of PFC.