Thailand’s Commission on the National Competitiveness Enhancement for Targeted Industries has approved an investment exceeding USD 1 billion from Sunwoda Electronic for the production of electric vehicle (EV) and energy storage system (ESS) batteries at the cell level. This investment is part of Thailand’s efforts to strengthen its supply chain and support the domestic and export markets for EV manufacturing.
The project, announced by the Secretary General of the Thailand Board of Investment (BOI), will involve the construction of manufacturing facilities in the Eastern Economic Corridor. The first factory, located in Chonburi Province, will focus on producing lithium-ion battery cells for EV manufacturers. This initiative marks a significant development in Thailand’s EV supply chain, reinforcing its position as a manufacturing hub for both EVs and hybrids.
The Sunwoda project will also contribute to the expansion of ESS and solar energy use in the country. The facility is expected to employ over 1,000 staff initially, with more to be hired as the project progresses, including a significant number of Thai engineers and researchers. This investment will help transfer knowledge and technology to Thailand, benefiting the local workforce.
Sunwoda Automotive Energy Technology (Thailand), a subsidiary of Sunwoda Electronic, will establish its first EV-related battery cell factory in the ASEAN region. Thailand’s long-standing position as a hub for the internal combustion engine automotive industry is now evolving with substantial investments in EV and hybrid production.
(Source: PRNewswire)
