Bangkok – 5 July 2023 - SVOLT Energy Technology Co., Ltd., an innovative high-tech company specializing in global power battery and energy storage systems, held a momentous groundbreaking ceremony in Chonburi’s Sri Racha, to announce the official commencement of construction for their first module & PACK factory in the country, strengthening their presence in the thriving Southeast Asian market and reflecting the company’s unwavering dedication to cementing their commitment to the thriving Thai EV market.

The groundbreaking ceremony was witnessed the esteemed presence of distinguished guests from the Thai government, industry leaders, and notable representatives, including Mr. Wisanu Tabtieng, Chief Inspectors General, Ministry of Industry (MOI), Mr. Narit Therdsteerasukdi, Secretary General, Board of Investment (BOI), Dr. Kriengsak Wongpromrat, President of Thailand Automotive Institute (TAI), Mr. Nutthakorn Utensute, Principal Advisor on Excise Control System Development (Excise) and Mr. Sittiphat Rhienrungruang, Director of customs Service Section3 Laem Chabang Port Customs Office. In addition, executives of Great Wall Motor (GWM), a strategic partner of SVOLT led by Mr. Vudhigorn Suriyachantananont, Vice President of Marketing for the ASEAN region, Mr. Khanchit Chaisupho, Vice President of External and Government Affairs and Mr. Michael Chong, General Manager participated the memorable occasion as well. The ceremony was hosted by Mr. Yang Hongxin, Chairman and CEO of SVOLT who welcomed representatives from the China General Chamber of Commerce, Bangkok Bank, Bank of China, and Hozon Auto. The factory construction is well underway and set to reach completion at the end of 2023.

Mr. Yang Hongxin, Chairman and CEO of SVOLT highlighted the significance of Thailand's role as the second-largest economy in Southeast Asia, particularly in automotive manufacturing and exports, the immense potential for China's new energy vehicles to enter international markets through Thailand.

“SVOLT adheres to the “Going out” and “Bringing in” philosophy that focus on matching international regions. Thailand serves as a strategic launchpad within the ASEAN market, allowing SVOLT to leverage its advanced domestic power battery technology and capitalize on Thailand's favorable policy environment. By introducing China's cutting-edge lithium battery technology, SVOLT aims to establish a local battery supply chain system and expand its presence in the new energy sector, thereby contributing to China's global leadership in the field of new energy,” Mr. Hongxin expressed.

SVOLT's presence in Thailand is facilitated through its wholly owned subsidiary, SVOLT Energy Technology (Thailand) Co., Ltd., which oversees the operation of the factory. The company's primary focus is to cater to the needs of the passenger vehicle market, swiftly integrating into the Thai market. To achieve this goal, the SVOLT Energy Module Pack factory has been established, repurposing an existing local factory in Thailand. With an anticipated annual production capacity of 60,000 sets of module packs, the factory is designed to meet the growing demand.

 

In response to the requirements of local customers, the SVOLT Thailand factory has meticulously planned two production lines. One line is dedicated to manufacturing modules for hybrid electric vehicles (HEVs), while the other focuses on producing modules and packs for plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs). These production lines incorporate independently developed pouch cells and prismatic cells, utilizing advanced automated welding processes and monitoring equipment to ensure efficient and high-quality production.

 

With the establishment of the factory in Thailand, SVOLT aims to capitalize on the local advantages offered by the Southeast Asian region and gradually venture into energy storage and recycling business. Through battery recycling initiatives, SVOLT seeks to achieve localized and systematic supply of battery cells.

 

Mr. Wisanu Tabtieng, Chief Inspectors General of the Ministry of Industry said "SVOLT Energy's investment and establishment of a factory in Thailand have effectively stimulated employment and drive the growth of Thailand's new energy vehicle industry. With Thailand being the second-largest automotive sales market in the ASEAN region, the new energy vehicle sector is entering a critical phase of development. The Thai government is committed to fostering a supportive environment for the growth of new energy enterprises, striving to achieve mutual benefits and shared progress for the advancement of the industry.”

 

SVOLT maintains strong collaborations with esteemed customers like GWM and Hozon Auto to jointly develop and produce batteries for electric vehicles, unlocking enhanced performance and extended range for their EV lineup. The company actively expands its customer base by initiating business negotiations with local companies in Thailand, laying the foundation for future partnerships and facilitating market expansion.

 

In recent years, several Chinese new energy vehicle brands have been making swift strides in their international expansion efforts. Prominent automakers like GWM and other Chinese brands have actively entered the Southeast Asian market, propelling the rapid growth of the new energy industry chain. SVOLT has embraced a global development strategy from its inception, leading to established factories and research centers in various locations, including Germany.