EVE Energy, Energy Absolute to co-build battery production base in Thailand

Shanghai (Gasgoo)- On July 27, EVE Energy made an announcement stating that it had signed a memorandum of understanding (MOU) with Energy Absolute Public Company Limited (“EA”), a Thai renewable energy service provider.

According to the agreement, EVE Energy and EA Group (including EA and its subsidiaries) plan to establish a joint venture in Thailand, with the purpose of constructing a battery production base with a minimum production capacity of 6 GWh per year.

Photo credit: EVE Energy

EA Group, a registered company in Thailand, is currently engaged in a comprehensive range of renewable energy businesses, including biodiesel manufacturing, renewable energy power development, electric vehicle and EV charger development and operation, as well as primary lithium battery manufacturing. There is no existing affiliation between EA Group and EVE Energy.

The investment structure of the joint venture to be established in Thailand will be based on a 51% stake for EA Group and a 49% stake for EVE Energy, with net profits shared on a 50:50 basis.

EVE Energy expressed that this collaboration will enable both parties to fully integrate their advantageous resources, complement each other, and facilitate the smooth progress of their overseas operations, in order to meet the demands of customers in Thailand and Southeast Asia. This move represents an important step for the company in enhancing its global industrial layout, aligning with the company's development strategic plan, and benefiting all shareholders.