Eve Energy & Absolute Energy to build battery plant in Thailand

Chinese battery cell manufacturer Eve Energy is planning a joint venture to build a factory in Thailand with an annual capacity of at least 6-gigawatt hours. The joint venture for this is to be established together with the Thai energy company Energy Absolute.

Energy Absolute is to hold 51 per cent of the joint venture and Eve Energy 49 per cent. Profits from the joint venture will go equally to both companies despite Absolute Energy’s (small) majority.

Absolute Energy is Thailand’s second-biggest provider of electricity and unveiled its first electric car in 2019. The company has been planning battery plants in Thailand since at least 2018. For its part, the Chinese battery heavy-weight Eve Energy says the memorandum of understanding will help facilitate its overseas business advancement to…