Thailand Welcomes Chinese Battery Giant SVOLT to Boost EV Hub Ambitions
Thailand is making strategic moves to position itself as a leading hub for electric vehicle (EV) batteries in Southeast Asia, courting Chinese battery manufacturers like SVOLT. The country's latest endeavor involves discussions between Thailand's Industry Minister, Pimpattra Wichaikul, and executives from Banpu Public Company Limited and S.V. Energy Technology (Thailand) Company Limited, an affiliate of SVOLT. The talks highlighted SVOLT's intent to expand its footprint in Thailand by finding partners and setting up battery cell production facilities, following their recent inauguration of a battery pack production line in Chonburi with an annual capacity of 20,000 units.
Pimpattra underscored Thailand's comprehensive readiness to become the regional EV battery hub, showcasing the government's extensive support measures aimed at enticing Chinese investors. These measures include investment promotion privileges tailored for EV production and essential components like battery cells, initiatives to stimulate entrepreneurship across the EV battery supply chain, and the formation of a dedicated committee to oversee and facilitate EV industry investments.
Thailand's allure as an EV hub is further amplified by the growing number of companies establishing EV production bases in the country and government efforts to develop infrastructure and battery recycling systems. This burgeoning ecosystem makes Thailand an attractive destination for companies like SVOLT. The Chinese battery powerhouse, renowned for its lithium-ion battery production capabilities, marked a significant milestone by launching Thailand's first battery pack production line in Chonburi. This facility, which will supply Great Wall Motors electric vehicles, underscores SVOLT's expansion ambitions and commitment to integrating artificial intelligence technology in its operations.
