In a significant and strategic move for Thailand, Energy Absolute PCL (EA), one of the major players in the renewable energy sector within the ASEAN region, has revealed its plans to construct a battery cell manufacturing plant. This initiative is in partnership with two Chinese powerhouses in battery manufacturing, EVE Energy Co. Ltd, and Sunwoda Mobility Energy Technology Co., LTD (Sunwoda). Both are listed among the top 10 battery manufacturers in China. The intention behind this collaboration is to build a state-of-the-art battery cell plant in Thailand with a production capacity of at least 6 GWh, aimed at fulfilling the rising demands of the burgeoning Thai and ASEAN battery markets at comparative prices.
A frontrunner in promoting and developing a comprehensive suite of renewable energy solutions, EA has been instrumental in popularizing Commercial Electric Vehicles (EVs), Li-ion Batteries, and Charging stations within Thailand’s borders. The firm’s efforts align with the government’s EV Fast Charge Ecosystem for Commercial EVs as well as the country’s EV 30/30 Vision. This joint venture eyes further progress by setting up a substantial and competitively priced battery cell production factory, catering to the rising demand in the local and ASEAN battery cell markets, propelling Thailand to emerge as an EV hub.
Through establishing extensive charging networks and nurturing partnerships with acclaimed Chinese entities, EA has bolstered multiple EV projects like Public E-Ferry, E-Truck, Public E-Bus, and E-locomotive. Strategically investing in a 1 GWh fast charge battery cell manufacturing plant and an EV assembly line, EA is aiding the Thai government in fulfilling its master plan towards turning Thailand into an EV and Battery investment hotspot. It sets a firm foundation for Thailand’s ambition to lead the ASEAN EV market.
Reiterating their commitment to this vision, EA is planning on teaming up with a top Chinese battery manufacturer to deliver locally made EV battery cells and packs at an equally affordable cost for the Chinese EV assembly line. Both EVE and Sunwoda have shown keen interest in this partnership with EA, sighting potential growth in the Thai EV-Battery industry. Joint studies will be conducted that will help establish endeavors for the production and marketing of battery cells and packs within Thailand and ASEAN market.
Building on the success of these studies, EA will then approach Amita Technology (Thailand) Co., LTD for potential collaboration with the Chinese partner to import advanced prismatic battery cell production technology, foster a cost-effective supply chain, maintain a steady rhythm of R&D, and tap into the Chinese EV customer base. This cohesive effort is poised to set up one of the largest and competitive battery cell factories in Thailand with an initial capacity of 6 GWh. Aside from catering to EA’s EVs, this factory will also supply battery packs to manufacturers from China, Japan, and Europe, thus making Thailand a significant player in the global EV and battery market.
However, the accomplishment of this ambitious project would heavily rely on the Thai government’s approach towards promoting investment in EV battery cell production. For the plan to take off effectively, it is crucial that the government lays down a favorable policy environment and swift implementation, thus strengthening the tie between investor trust and project feasibility. This should be done with a sharp focus on turning Thailand into an indispensable hub for lithium-ion batteries and a notable leader in the ASEAN EV industry.
Your chance to get to know more about Energy Absolute PCL (EA), EVE, and Sunwoda:
Energy Absolute PCL (EA) was established in 2006 and grew into public status in 2008. Today, the company is a prominent player in the alternative and clean energy sector, employing innovative and modern technologies in its operations. The company’s primary business is divided into five main clean energy categories: B100, Pure glycerin, Bio-Hydrogenated Diesel, and PCM production and distribution, the production of electricity from renewable sources, Lithium-ion battery development, and manufacturing, EV charging station services, and commercial electric vehicle development.
EVE Group, after 22 years of rapid development, has become the 3rd largest lithium-ion battery technology provider in China, with an impressive battery capacity of no less than 360 GWh. The company is now a global concern focused on lithium battery power solutions and offering comprehensive solutions for consumer batteries, power batteries, and energy storage batteries. The company’s products are utilized in Internet of Things (IoT), and the Internet of Energy technologies, with lithium-ion batteries dispatched to globally renowned brands.
Sunwoda Group was founded in 1997 and advanced into the EV battery business in 2008. As of 2022, it ranks 5th in China’s market share and is the 9th largest EV battery producer globally. The company plans to extend its reach to the European market by setting up a battery facility in Hungary. Currently, their annual battery production capacity is more than 100 GWh, which they plan to scale up to 138 GWh by 2025.