Energy Absolute PCL (EA) has signed Memorandums of Understanding (MOUs) with EVE Energy Co., Ltd (EVE) and Sunwoda Mobility Energy Technology Co., Ltd (Sunwoda), two of the top 10 battery manufacturers in China.
The MOUs aim to jointly study and establish a battery cell production factory with a minimum capacity of 6 GWh in Thailand. The purpose of this initiative is to create an advanced manufacturing plant for battery cells in Thailand that can produce Electric Vehicle (EV) and Energy Storage System (ESS) batteries at a competitive cost, catering to the growing demand in the Thai and ASEAN battery markets.
EA, being the leading full-line renewable energy business developer in ASEAN, has been actively promoting and manufacturing Commercial EVs, Charger stations, and Li-ion Batteries in Thailand. They have played a key role in promoting Thailand’s EV Fast Charge Ecosystem for Commercial EVs and the country’s EV 30/30 Vision, aimed at transitioning Thailand to a low-carbon economy and positioning it as a regional EV hub. The company has established Charging networks and has collaborated with famous Chinese partners to support EV-related projects, including Public E-Ferry, Public E-Bus, E-Truck, and E-locomotive.
Over the past five years, EA has been a significant player in supporting the Thai government’s strategic master plan for EV and Battery investment promotion, working towards making Thailand the centre of the EV ASEAN market. As part of this plan, EA has invested in setting up a 1 GWh fast charge battery cell production plant and EV assembly plant in Thailand. Their objective is to transform Thailand into the leading EV market in ASEAN.
To further support the Chinese EV assembly plant in Thailand, EA plans to collaborate with a top Chinese battery manufacturer to produce EV battery cells and packs at a competitive cost, locally supplying them to the assembly plant.
Both EVE and Sunwoda are enthusiastic about cooperating with EA, as they foresee promising growth in Thailand’s EV-Battery market. After conducting joint studies with EA, EVE and Sunwoda will explore opportunities for producing and selling battery cells and packs in Thailand and the broader ASEAN market.
Following the study phase, EA will propose Amita Technology (Thailand) Co., Ltd. to co-invest with the Chinese partner to bring advanced prismatic battery cell production technology, ensure low-cost supply chain materials, continuous R&D, and access to the Chinese EV customer base. This joint effort will establish one of the largest and most competitive battery cell production plants in Thailand, initially with a capacity of 6 GWh. EA group companies will utilise some of these batteries for their commercial EVs, while also supplying battery packs to Chinese, Japanese, and European EV manufacturers. Furthermore, EA will manufacture and sell ESS in Thailand and collaborate closely with the Thai Government’s promotion measures to make Thailand a prominent EV and Battery base in ASEAN.
The successful implementation of this project will largely depend on the government’s policy to promote investment in EV battery cell production. To ensure investor confidence and feasibility, the government should expedite and implement this policy promptly, aiming to establish Thailand as the manufacturing hub for lithium-ion batteries and a leader in the ASEAN EV industry in the future.
About Energy Absolute PCL
Established in 2006 and registered as a public company in 2008, Energy Absolute Public Company Limited (EA) has become a leading alternative and clean energy company, implementing advanced and innovative technology in its operations. The company aims to conduct business with sustainable growth, providing quality products and services, showing resourcefulness, environmental concern, and balancing the interests of all stakeholders. EA is engaged in 5 main business segments related to clean energy, utilising advanced technology:
(1) Manufacturing and distributing Biodiesel products (B100), Pure glycerin, Bio-Hydrogenated Diesel, and PCM.
(2) Generating and distributing electricity from Renewable Energy, with a capacity of 664 MW (Solar and Wind).
(3) Developing and manufacturing Lithium-ion Batteries mainly for the power industry and auto industry. The fully integrated energy storage system has the largest capacity in the ASEAN, with an initial capacity of 1 GWh per year, expandable to up to 50 GWh per year.
(4) Providing EV Charging station service, “EA Anywhere,” creating the largest EV charging network in Thailand.
(5) Designing and developing commercial electric vehicles at the largest factory with a production capacity of up to 9,000 units/year, known as “MINE Mobility.” Recently, electric ferries, buses, pickups, trucks, and locomotives have been introduced.
About EVE Group
EVE was established in 2001 and listed in 2009. After 22 years of rapid development, it has become the 3rd largest lithium-ion battery technology provider in China, with a battery capacity of no less than 360 GWh. The company now operates as a multinational company focusing on lithium battery power solutions, offering core technologies and comprehensive solutions for consumer batteries, power batteries, and energy storage batteries. EVE’s products are widely used in the areas of the Internet of Things (IoT) and the Internet of Energy, with its lithium-ion batteries supplied to global first-tier brands. The company ranks among the top 10 companies in the world in terms of power battery installed capacity, collaborating with internationally renowned automakers such as BMW, Daimler, Hyundai, and Jaguar Land Rover. EVE’s global sales foundation footprint has expanded to the United States, Germany, Malaysia, and other regions.
About Sunwoda Group
Sunwoda, founded in 1997, began its EV battery business in 2008. As of 2022, it is the 9th largest EV battery producer in the global market and ranks 5th in China in terms of market share. Last year, Sunwoda went public on the SIX Swiss Exchange, and the company is actively preparing to enter the European market, with plans to build a battery facility in Hungary. Currently, it has an annual battery production capacity of more than 100 GWh, with plans to scale up to 138 GWh by 2025. Sunwoda is renowned for being a fast-charge battery manufacturer and producing PHEV/HEV batteries, such as Nissan E-Power and the recently introduced Super Fast Charge battery SFC480. Additionally, Sunwoda was listed in Benchmark’s Tier 1 of Automotive-grade Battery Producers, working with companies like Dongfeng Maxus, Geely, Li Auto, Huawei, XPeng, Renault, and Nissan, and receiving repeated awards from Xiaomi, vivo, DFLZ, and others.
