Chinese Battery Manufacturer EVE Energy Eyes Lithium Plant in Thailand

Huizhou City-based global lithium battery company EVE Energy (EVE), has signed a Memorandum of Understanding (MoU) with Thailand’s Energy Absolute (EA), to jointly study establishing an advanced manufacturing battery cell factory in Thailand.

Following the co-study, EA will propose Amita Technology (Thailand) a subsidiary of EA, and EVE will jointly invest in the construction of a battery cells factory with 6 GWh capacity in the initial stage in Thailand.

EA is Thailand’s largest renewable energy company focusing on electric vehicles (EVs), electric motorcycles, and electric boats. The firm provides solutions for renewable energy and electric transportation in Thailand and other countries in Southeast Asia.

The establishment of the new plant in Thailand will allow EVE to serve its clients in Southeast Asia and meet the growing demand for lithium batteries in the region.

It also adheres to the company’s international development strategy which has seen it recently announce plans to build a US$1.18 billion battery plant in Hungary, to supply German carmaker BMW’s plant in the country.

In May, EVE also announced its plans to acquire land in Malaysia to build a new lithium battery factory to support electric two-wheeler and power tool manufacturers in Malaysia and Southeast Asia.

The Thai government is pushing hard to position the country as Southeast Asia’s EV production hub and wants at least 30% of its annual production of 2.5 million vehicles to be EVs by 2030.