EVLOMO Incorporated and Rojana Industrial Park Public Co., Ltd. announced plans to setup 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% shares and balance 45% 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 required technology to Thailand, as achieving self-reliance in battery manufacturing is critical to Thailand’s EV plans.
The collaboration brings together Rojana, a leader from the industrial estate development sector of Thailand and with EVLOMO, company promoting greater ZEV adoption by offering an ultrafast and convenient charging network. The battery plant will establish Nong Yai as an EV hub of Thailand and ASEAN region.
The technology of the project will be led by Dr. Li Qiyong & Dr. Xu. Dr. Li Qiyong, Former VP of LG Chemicals (Korea) battery research and development has more than 20 years of experience in manufacturing and management of lithium-ion batteries/lithium-ion polymer batteries. Dr. Xu, was responsible for new materials, new technology development, and new product applications for one of the top 3 global battery producers.
In the first stage both parties will setup a 1 GWhplant with an investment of US$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.