EVLOMO Inc. and Rojana Industrial Park Public Co. Ltd will set up an 8GWh lithium battery plant in the Eastern Economic Corridor (EEC) of Thailand.
EVLOMO Inc. and Rojana Industrial Park Public Co. Ltd will set up an 8GWh lithium battery plant in the Eastern Economic Corridor (EEC) of Thailand. Together, the companies will invest up to a total of $1.06 billion through a new joint venture company, in which Rojana would own 55% and the remaining 45% to be owned by EVLOMO.
To be located on a greenfield manufacturing site at Nong Yai, Chonburi province in Thailand, the battery plant is expected to create more than 3,000 new jobs and bring the required technology to Thailand, as achieving self-reliance in battery manufacturing is critical to the country’s ambitious EV plans ahead.
The collaboration brings together Rojana and EVLOMO to develop and produce technologically advanced batteries. The battery plant is expected to 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 and Dr. Xu, who would bring state-of-the-art technology to design and produce the lithium batteries in Thailand.
Dr. Li Qiyong, former VP of LG Chemicals battery R&D, has more than 20 years of experience in manufacturing and management of lithium ion batteries/lithium-ion polymer batteries, published 36 papers in international journals, and has 29 authorized patents and 13 patent applications (under review).
Dr. Xu, responsible for new materials, new technology development, and new product applications for one of the top three battery producing companies of the world, has 70 invention patents and published more than 20 academic papers.
In the first stage, both parties will setup 1GWh plant with an investment of $143 million in 18 to 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 Thai and ASEAN market,” 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 Southeast Asia,” said Dr. Kanit Sangsubhan, Secretary General from Eastern Economic Corridor (EEC) Office.
Direk Vinichbutr, president of Rojana Industrial Park, 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.”