EV battery pact signed
Evlomo, Rojana joint venture expected to generate 3,000 jobs
published : 24 Apr 2021 at 04:00
newspaper section: Business
writer: Chatrudee Theparat
Evlomo Inc, a Florida-based company working on electric vehicles (EVs), has teamed up with Rojana Industrial Park Plc to invest US$1.06 billion (33.3 billion baht) in a 8-gigawatt battery energy storage construction project in Nong Yai district in Chon Buri.
The joint venture is 55% held by the SET-listed industrial park operator and 45% by the US firm.
The project is expected to create 3,000 jobs, bringing high technology for electric mobility to Thailand and upgrading Nong Yai to become a manufacturing hub of EVs in Asean.
E-mobility encompasses the use of fully electric, conventional hybrid, plug-in hybrid as well as hydrogen-fuelled vehicles.
Under the investment plan, the joint venture firm in the initial stage constructs the battery production plant with a production capacity of 1GW worth $143 million. Construction is expected to be completed in 18-24 months.
The batteries are for use by four-wheeled vehicles, buses, heavy-duty trucks and two-wheeled vehicles. The output can also be used for energy storage for sale in Thailand and abroad.
Kanit Sangsubhan, secretary-general of the Eastern Economic Corridor (EEC) Office, who witnessed the joint venture signing ceremony by the two firms yesterday, said the investment will upgrade Thailand's EV industry and enable it to become the centre of state-of-the-art battery technology production in Southeast Asia.
Evlomo has been active in Thailand recently, using its affiliate Evlomo Technologies Co in its plan to roll out a network of EV chargers across the country. The firm vows to establish a wide network of charging stations, accessible through an integrated platform on mobiles using Internet of Things and artificial intelligence.
The firm is developing a network of DC fast chargers, with capacities ranging up to 350 kW, compatible with all major EV models on the market. It partnered with Tritium and East Group for charging infrastructure.
Evlomo is also collaborating with PTT Oil and Retail Plc to bring public ultra-fast EV chargers to PTTOR sites in the EEC.