SVOLT begins construction of module pack factory in Thailand

Shanghai (Gasgoo)- On July 5 local time, SVOLT Energy Technology Co., Ltd. (“SVOLT”) held a ceremony in Sriracha Chonburi, Thailand to announce the official start of construction for its module pack factory in the country.

The factory in Thailand is under the responsibility of SVOLT’s wholly-owned subsidiary, SVOLT Energy Technology (Thailand) Co., Ltd. The company will initially focus on meeting the demand in the passenger vehicle market and quickly integrate them into the Thai market with high-quality products and services, providing localized battery support services to local customers.

Photo credit: SVOLT

According to the plan, the Thailand-based module pack factory is built on a transformation and upgrade of a local factory leased to SVOLT, with an expected annual production capacity of 60,000 sets of battery module packs. Based on the local customer demand, the factory has planned two production lines: one for HEV modules and the other for PHEV/BEV modules + packs. The production will utilize SVOLT’s self-developed soft-pack cells and short-blade cells, as well as advanced automated welding processes and monitoring equipment. Construction is expected to be completed by the end of 2023.

Yang Hongxin, chairman and CEO of SVOLT, stated, "As the second largest economy in Southeast Asia, Thailand is an important base for automotive manufacturing and export in the region, providing tremendous opportunities for Chinese new energy vehicles to go global. With Thailand as a new starting point for the Southeast Asian market strategy, we will introduce China's advanced lithium-ion technology into Thailand, relying on China’s advanced power battery technology and the local policy environment, to establish a local battery supply chain system and continuously explore the new energy vehicle field, thus supporting China's new energy industry in going global."

In recent years, Chinese new energy vehicles have been accelerating their expansion into overseas markets, with companies like Changan Auto, SAIC Motor, and HOZON Auto actively entering the Southeast Asian market. As a highly innovative high-tech enterprise in the global power battery and energy storage system field, SVOLT has established factories and R&D centers in Germany and other locations. This establishment of a factory in Thailand will leverage the advantages of the Southeast Asian region and collaborate with local partners to expand the energy storage, lightweight power, and battery recycling businesses for both the company its self and local auto industry.

Currently, while deepening cooperation with existing customers such as Great Wall Motors and Hezhong, Honeycomb Energy is actively expanding to new customers and has already begun business negotiations with local companies in Thailand.