Two Chinese Battery Manufacturers to Set Up Factories in Thailand, BOI Announces
The Board of Investment (BOI) in Thailand reported that at least two Chinese battery manufacturers are planning to establish factories in the country this year.
The announcement came after a roadshow in China where BOI met with seven battery manufacturers from April 7 to 10.
The companies expressed interest in Thailand's support for battery cell manufacturing for electric vehicles (EVs) and energy storage systems.
Thailand's clear and continuous policies to promote the EV industry were highlighted as a strong point that would increase battery demand in the future.
A BOI delegation met with seven battery manufacturing companies: Contemporary Amperex Technology, CALB, IBT, Eve Energy, Gotion High-tech, Sunwoda, and SVOLT Energy Technology.
These firms are expanding outside China to meet global demand and reduce geopolitical risks.
Two companies are planning to establish first phase production capacity of 6-10 gigawatt-hours in Thailand, investing over 30 billion baht.
The other firms are considering setting up joint ventures and reviewing their investment strategies as they only produce battery packs and modules.
Manufacturers are expanding battery production in Europe and the US, and Thailand should aim to attract their investments to stay competitive in the EV industry.
Battery cells are crucial as they determine an EV's efficiency and maximum running distance, requiring advanced technology, chemistry, and materials science knowledge.
The companies expressed interest in Thailand's support for battery cell manufacturing for electric vehicles (EVs) and energy storage systems.
Thailand's clear and continuous policies to promote the EV industry were highlighted as a strong point that would increase battery demand in the future.
A BOI delegation met with seven battery manufacturing companies: Contemporary Amperex Technology, CALB, IBT, Eve Energy, Gotion High-tech, Sunwoda, and SVOLT Energy Technology.
These firms are expanding outside China to meet global demand and reduce geopolitical risks.
Two companies are planning to establish first phase production capacity of 6-10 gigawatt-hours in Thailand, investing over 30 billion baht.
The other firms are considering setting up joint ventures and reviewing their investment strategies as they only produce battery packs and modules.
Manufacturers are expanding battery production in Europe and the US, and Thailand should aim to attract their investments to stay competitive in the EV industry.
Battery cells are crucial as they determine an EV's efficiency and maximum running distance, requiring advanced technology, chemistry, and materials science knowledge.
Translation:
Translated by AI
