Gotion High Tech Company, a Chinese electric vehicle (EV) battery maker based in Hefei, Anhui, is planning to build a battery pack assembly plant in Thailand to support the country’s rising demand for electric vehicles, according to reports from China.
Gotion forms a Thai joint venture called NV Gotion with its subsidiary Gotion Singapore and Nuovo Plus, the subsidiary of Thai petrochemical company PTT.
According to reports, the joint venture would engage in the design, development, manufacture, sale and export of battery modules.
Gotion plans to launch a factory in Thailand’s Eastern Economic Corridor by Q4 2023 to supply a growing number of EV manufacturing plants in the country, while also eyeing battery pack exports to other countries in the region.
Chinese automakers such as BYD, SAIC Motor and Great Wall Motors are pushing EV adoption in Thailand, while European manufacturers such as Mercedes-Benz and BMW and some Japanese automakers are also getting involved. Last month, Tesla also began selling its Chinese-made electric vehicles in Thailand. Local analysts expect EV sales in the country to surpass 25,000 units this year, helped by sales incentives introduced by the government last year.
The Thai government has set a target of making 50% of vehicle production battery-powered by 2030. Last year, the country produced an estimated 1.9 million vehicles, about 55% of which were exported.
Gotion recently announced plans to build an electric vehicle battery factory in Vietnam in partnership with domestic vehicle startup VinFast, and is considering a full-fledged factory in the US.