Banpu NEXT to acquire 40% stake in SVOLT’s Thailand subsidiary

Shanghai (Gasgoo)- On October 10th, SVOLT Energy Technology (Thailand) Co., Ltd. ("SVOLT Thailand"), a subsidiary of the Chinese power battery maker SVOLT Energy Technology Co., Ltd. ("SVOLT"), forged a strategic partnership with Banpu NEXT, a subsidiary of the international energy giant Banpu, marking a significant milestone in the international expansion of SVOLT.

As part of this collaboration, Banpu NEXT will acquire a 40% stake in SVOLT (Thailand) Co., Ltd. This marks the first time for SVOLT Thailand to attract a local partner in Thailand for investment since its announcement of establishment in July.

Photo credit: SVOLT

Under this agreement, the two companies will engage in comprehensive cooperation across various domains such as vehicle power batteries, batteries for two-/three-wheelers, energy storage, and recycling. They will jointly explore the Southeast Asian new energy vehicle market, fostering a holistic industrial chain collaboration. SVOLT will introduce advanced lithium battery R&D, manufacturing, and recycling technologies to Southeast Asia through SVOLT Thailand. Leveraging local partners' resources, the Chinese battery maker aims to integrate resources, and drive joint R&D and practical applications of related technologies, seizing a competitive edge in the Thai market.

Yang Hongxin, Chairman and CEO of SVOLT, expressed the company's strong commitment to business deployment in the Southeast Asian market. It regards a strategy of "openness, global vision, and local operation" as integral to entering the market. With Banpu NEXT's investment in SVOLT Thailand, the two companies have embarked on a profound and sustainable collaboration, with cooperative scenarios in the fields of "vehicles, energy storage, recycling, and mining." This aligns closely with SVOLT's expansion strategy in the Asia-Pacific region.

Banpu Group is a globally renowned diversified energy technology conglomerate, comprising three core businesses: "energy resources, energy generation, and energy technology." It has a strong presence in Southeast Asia and has extended its reach to China, Japan, North America, and Australia.

As a subsidiary of Banpu, Banpu NEXT is a leading provider of smart energy solutions in the Asia-Pacific region. It is deeply committed to driving the development of clean energy technologies, aiming to align with future energy trends, smart city development, and the evolving needs of modern consumers. By investing in SVOLT Thailand, and leveraging SVOLT's expertise in innovative battery technologies, Banpu NEXT will enhance its capability to create reliable, cost-effective, and environmentally friendly smart energy solutions, ultimately improving energy efficiency across the entire energy sector.