CATL signs MoU with Thailand-based Arun Plus for battery business
Shanghai (Gasgoo)- CATL announced on May 13 that it recently signed a MoU (memorandum of understanding) with Arun Plus, a wholly-owned subsidiary of Thailand's state-owned oil supplier PTT, to conduct cooperation on battery business in ASEAN (Association of Southeast Asian Nations) markets.
Photo credit: CATL
The strategic partnership newly forged is to bolster the development of EV (electric vehicle)-related industrial chain, said CATL. Per the agreement, CATL will authorize Arun Plus to use its CTP (cell-to-pack) technology, so as to boost the application of this technology in Thailand and even worldwide.
Besides, under the agreement, Arun Plus and CATL will co-provide batteries for Horizon Plus and other EV brands. According to CATL’s introduction, Horizon Plus is the joint venture between Arun Plus and Foxconn, and plans to produce EVs in Thailand in 2024.
The CTP is a system that utilizes battery cells that are combined into packs without modules to reduce complexity, weight, space, and cost. CATL said its CTP technology can help improve the system energy density of the battery pack, simplify the battery manufacturing process, and save cost correspondingly.
CATL plans to formally launch the “Qilin” battery, its third-generation CTP (cell-to-pack) battery technology in the second quarter of 2022, Zeng Yuqun, CATL's chairman, said on May 5 at the latest annual earnings conference.
Thailand hopes its EV production volume can reach no fewer than 30% of all annual vehicle outputs by 2030 nationwide. The latest cooperation will assist the country with its transition towards low-carbon economy and building of a regional EV hub.
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