Battery tie-up aims to boost EV demand
US-based EVLOMO Technologies Co is preparing to jointly work on battery development and a battery swapping service project for electric motorcycles in a move to boost demand for green two-wheelers in Thailand.
The company recently signed a memorandum of understanding to cooperate with PTT Oil and Retail Business Plc (OR) and Toyota Tsusho (Thailand).
"We have decided to capitalise on the strengths of each partner to make the most out of their deep knowledge of technology, the Thai market, and electric vehicles [EVs]," said Nicole Wu, group chief executive of EVLOMO.
The three companies agreed to work together to provide a battery management platform for motorcyclists under a "Battery-as-a-Service" programme. Riders whose batteries are running at a low level are able to replace their batteries with fully charged ones at battery swapping stations under the scheme.
Toyota Tsusho's expertise in advanced technology and OR's extensive network of petrol stations are expected to help the project proceed successfully, eventually helping Thailand achieve its goal of boosting demand for EVs.
The number of OR petrol stations in Thailand and abroad stands at 2,453, the company reported earlier.
Jiraphon Kawswat, president and chief executive of OR, said this cooperation will encourage prospective motorcycle buyers to adopt electric mobility technology.
She said OR wants to play an important role in supporting the development of batteries as well as charging facilities for electric motorcycles.
"We will together gauge market conditions and collaborate to create an ecosystem where customers have access to the latest battery technologies throughout the life cycle of their electric motorcycles without a need to bear recurring costs of battery purchases," said Ms Jiraphon.
Nobufumi Miura, director and executive vice-president of Toyota Tsusho, said the cooperation will help to achieve carbon neutrality targets by solving issues in the field of batteries.
Carbon neutrality, which has been part of eco-friendly manufacturing, aims to strike a balance between carbon dioxide emissions and absorption.