LG Energy Solution, Honda, Hanoi City Sign Deal to Set Up Battery Swapping Stations for Electric Two-Wheelers
LG Energy Solution (KRX:373220), Japanese automaker Honda Motor (TYO:7267), and the City of Hanoi, Vietnam, signed a memorandum of understanding to establish public battery swapping stations for electric two-wheelers, according to a Wednesday release.Under the agreement, the three parties will establish electric two-wheeler battery-swapping stations in central Hanoi using LG Energy Solution's Cylindrical 2170 batteries and develop battery standardisation and safety management systems. Business models for electric two-wheeler platforms will also be established, according to the release.Honda will be responsible for battery packs, switchers, and electric motorcycles, the release said.Shares of LG Energy Solution fell nearly 4% at market close.