Rojana and EVLOMO to build $1.06-billion lithium battery plant in EEC
Rojana Industrial Park Pcl and EVLOMO Inc plan to set up an 8GWh (gigawatt hours) lithium battery plant in the Eastern Economic Corridor (EEC).
The companies will invest up to a total of $1.06 billion (Bt33.3 billion) through a new joint venture company.
Rojana will own a 55 per cent stake in the new JV and 45 per cent will be owned by EVLOMO Inc.
The battery plant will be on a greenfield manufacturing site at Nong Yai in Chonburi province. It is expected to create more than 3,000 new jobs and bring required technology to Thailand, as achieving self-reliance in battery manufacturing is critical to Thailand's ambitious EV plans ahead, the companies said.
The collaboration brings together Rojana, leader from the industrial estate development sector of Thailand, and EVLOMO, leader in electric mobility in Thailand, to develop and produce technologically advanced batteries.
The battery plant would establish Nong Yai as an EV hub of Thailand and the Asean region, the companies said.
The technological aspects of the project will be led by Li Qiyong and Xu, who will bring state-of-the-art technology to design and produce lithium batteries in Thailand.
In the first stage, both parties will set up a 1GWh 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 honoured to have a collaboration with Rojana. In the field of advanced EV battery technology, EVLOMO expects this collaboration would be one of the memorable moments for putting the adoption of EV forward in Thai and Asean market," said CEO Nicole Wu.
"The investment would play the role of vitalising 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 Southeast Asia," said Kanit Sangsubhan, secretary-general at the EEC Office, who was also present at the signing event.
Rojana president Direk Vinichbutr 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."
