EVLOMO, Rojana to set up 8 GWh battery plant worth $1.06 billion in Thailand
EVLOMO Incorporated and Rojana Industrial Park Public Co., Ltd. has announced plans to set up an 8 GWh Lithium Battery plant in the EEC of Thailand. Together, the companies will invest up to a total of $ 1.06 billion through a new joint venture company. In this new JV company, Rojana Industrial Park Public Co., Ltd. would own 55 percent shares, and the balance 45 percent would be owned by EVLOMO Incorporated.
The battery plant will be on a greenfield manufacturing site at Nong Yai, Chonburi, Thailand that will create more than 3,000 new jobs and bring the required technology to Thailand, as achieving self-reliance in battery manufacturing is critical to Thailand's ambitious EV plans ahead.
The collaboration brings together Rojana, a leader from the industrial estate development sector of Thailand, and with EVLOMO, a leader in electric mobility in Thailand to develop and produce technologically advanced batteries. The battery plant will establish Nong Yai as an EV hub of Thailand and the ASEAN region.
The technological aspect of the project will be led by Dr. Li Qiyong & Dr. Xu, who would bring state-of-the-art technology to design and produce the lithium batteries in Thailand.
In the first stage, both parties will set up a 1 GWH plant with an investment of $143 Million in 18-24 months. Groundbreaking is expected to take place in 2021.
The batteries will be for electric four-wheelers, buses, heavy vehicles, two-wheelers, and energy storage solutions for Thailand and overseas markets.
"EVLOMO is honored to have a collaboration with Rojana. In the field of advanced EV battery technology, EVLOMO expects this collaboration will be one of the memorable moments for putting the adoption of EV forward in the Thai and ASEAN markets," said CEO Nicole Wu.
"The investment will play the role of vitalizing the EV industry in Thailand. We look forward to Thailand becoming a global hub for R&D, manufacturing, and adoption of advanced energy storage and EV technologies in entire South-East Asia," said, Dr. Kanit Sangsubhan, Secretary-General from Eastern Economic Corridor (EEC) Office was also present at the signing event.
Direk Vinichbutr, President of Rojana Industrial Park Public Co., Ltd. said, "The EV revolution is taking the country by storm and we are happy to be a part of this change. This association with EVLOMO will enable us to deliver globally competitive products. We look forward to a strong and fruitful association."
