On the afternoon of 20 July 2023, Selex Motors had the honour of hosting US Treasury Secretary Janet Yellen at our production factory in Gia Lam, Hanoi. During the visit, Secretary Yellen lauded the facility and the electric vehicles produced by the company, acknowledging the astute and dynamic business approach of the Vietnamese people in embracing the global trend towards green energy conversion.
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1. Discussions on Global Clean Energy Transition
During her official visit to Vietnam, Secretary Yellen engaged in discussions with Vietnamese representatives on ways to promote the global transition towards clean energy. Selex Motors’ ecosystem of optimised electric scooters for transportation in Southeast Asia has positioned itself as a significant stop for the US Treasury Secretary.
1.1 Climate Change as an Imminent Threat
Secretary Yellen emphasised the existing threat of climate change to humanity. Thus, businesses like Selex Motors, which adopt clean energy solutions, serve as exemplary models for regional efforts in reducing the impact of climate change.
1.2 Secretary Yellen’s Praise for Vietnam’s Role in “Friendshoring”
The US Treasury Secretary revealed that since the beginning of the COVID-19 pandemic, President Joe Biden’s administration recognised the importance of a resilient supply chain. Consequently, $500 billion has been invested in the manufacturing and clean energy sectors in the US. Secretary Yellen’s visit to Vietnam emphasised the country’s crucial role in the concept of “friendshoring,” aiming to place manufacturing in allied countries. She stated, “We hope to see clean energy ecosystems like this thriving and prospering, creating resilient supply chains between the US and reliable trading partners like Vietnam.”
2. Selex Motors’ Green Electric Mobility Ecosystem
Selex Motors’ ecosystem comprises four main components: electric scooters, batteries, battery swapping stations, and a smart IoT-based management platform. With a vision to revolutionise transportation with a “green revolution,” Selex Motors has introduced breakthrough solutions in all aspects of electric mobility, enabling users to save time, reduce transportation costs, and enhance work efficiency.
>> Learn more about our EV ecosystem here!
2.1 Factory Tour with Secretary Yellen
Following the welcome ceremony, Selex Motors’ CEO, Dr Nguyen Huu Phuoc Nguyen, accompanied Secretary Yellen on a tour of the production plant. The first area they explored was the battery production and assembly line.
Secretary Yellen witnessed the use of advanced and modern technology to create lithium-ion battery packs with market-leading energy density, three times higher than conventional electric scooter batteries. Yellen mentioned, “This facility – and the electric vehicles and batteries you produce – are tremendously impressive. They evoke what has impressed me every time I have the opportunity to visit Vietnam, a very dynamic economy and entrepreneurial spirit of the Vietnamese people.”
2.2 Battery Swapping: A Key Aspect of Selex Motors’ Ecosystem
The advantages of Selex’s battery technology extend beyond our vehicles. Selex’s batteries are highly compatible, efficiently serving 70% of the electric scooter models available in the market. Many other electric scooter manufacturers’ customers can share the same battery swapping network, facilitating the establishment of shared energy infrastructure for electric scooters. This feature makes battery swapping a focal point of Selex Motors’ ecosystem.
2.3 Exploring Selex Camel Electric Scooters for Last-Mile Delivery
During the tour, Secretary Yellen had the opportunity to explore Selex Camel electric scooters designed specifically for last-mile delivery. With a load capacity of up to 225 kg, Selex Camel surpasses conventional gasoline-powered scooters, saving 25-35% on fuel costs and 50% on maintenance expenses.
2.4 Automatic Battery Swapping Station: A Game-Changer
The factory tour also included a demonstration of Selex Motors’ automatic battery swapping station, a significant milestone in establishing a battery swapping network that provides shared energy infrastructure for electric scooters. This system allows users to replace depleted batteries with fully charged ones in under 2 minutes, eliminating the need to wait for 6-8 hours for conventional charging.
3. Bilateral Cooperation for Economic Resilience
During the factory visit, Secretary Yellen expressed her appreciation for the cooperation between the US and Vietnam in supporting economic and financial resilience. She also praised the strong ties between the two countries, especially as our CEO, Dr Nguyen, had previously studied at the University of Michigan (USA) for his postgraduate studies.
3.1 Secretary Yellen’s Visit: A Testament to Our Vision
The recent visit of US Treasury Secretary Janet Yellen to Selex Motors was a momentous occasion that validated our company’s efforts and commitment. Our CEO Dr Nguyen shared, “Among numerous clean energy startups in Vietnam that were recommended for the visit, Selex Motors was the only company personally chosen by the US Treasury Secretary to visit during her trip to Vietnam. This is an honour not only for me, but for our entire team at Selex Motors.”
3.2 An Important Visit Amid Comprehensive Partnership
Secretary Yellen’s visit took place as both Vietnam and the USA celebrated the milestone of ten years of comprehensive partnership. Secretary Yellen’s visit marked the fifth time a US Cabinet member visited Vietnam since the beginning of 2023. Her visit to Selex Motors’ electric scooter plant holds significant importance in fostering bilateral cooperation to advance the global clean energy transition.
Selex Motors takes immense pride in our role as a catalyst for change in the clean energy transition. We are deeply honoured by the visit of US Treasury Secretary Janet Yellen, which underscores the significance of our contributions to the global clean energy landscape.
With a steadfast commitment to sustainable practices and innovative technologies, we are determined to lead the way towards a brighter, cleaner, and more sustainable future for Vietnam and beyond. Let us embrace the clean energy revolution and drive positive change for generations to come.
>> Read Secretary Yellen’s official statement about the visit here, and follow Selex Motors on Linkedin for the latest updates!
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