Thailand Approves Sunwoda to Invest More Than US$1 billion in EV Battery Cell Plants

BANGKOK, March 13, 2025/ PRNewswire/– Thailand’s Commission on the National Competitiveness Improvement for Targeted Industries, at a conference today, authorized a financial investment by a system of China’s Sunwoda Electronic worth more than a billion dollars in the production of electrical car (EV) and energy storage system (ESS) batteries at the cell level, in a relocation that will enhance the nation’s supply chain and assistance EV production for both the domestic and export markets.

The Commission is chaired by the Deputy Prime Minister and Minister of Financing, Mr. Pichai Chunhavajira, who is likewise the Chairman of the Thailand Board of Financial Investment (BOI). The Commission, whose secretariat is under the obligation of the BOI, was developed by law in 2017 to support brand-new markets that include worth to the economy and boost the nation’s competitiveness in a sustainable way.

Sunwoda Automotive Energy Innovation ( Thailand) Co., Ltd. prepares to develop its production centers in Thailand’s Eastern Economic Passage location. The very first factory, situated in Chonburi Province, will be producing lithium-ion battery cells for EV makers.

” Today marks a turning point in the advancement of Thailand’s EV supply chain, as having EV battery cells produced in your area will considerably enhance our status as a production center for EVs and hybrids, and increase the nation’s competitiveness,” Mr. Narit Therdsteerasukdi, Secretary General of the BOI, stated after the conference. “This job will likewise assist expand making use of ESS and solar power in our nation, and, through the hiring of countless Thai engineers and employees, add to understanding transfer in a market which is of important significance for the future.”

The building of Sunwoda’s very first Thai factory is advancing efficiently. The center is anticipated to employ over 1,000 personnel as soon as production starts. The whole job, which will consist of production along with research study and item advancement, will utilize a substantially higher personnel, consisting of a a great deal of Thai engineers and scientists.

Sunwoda Automotive Energy Innovation ( Thailand) is a subsidiary of Sunwoda Electronic Co., Ltd, a business headquartered in Shenzhen, Guangdong Province, China, which is taken part in the production of batteries for a large range of electronic gadgets, movement, and storage devices. In China, in 2023, Sunwoda’s SEVB brand name ranked initially in sales of batteries for hybrid electrical lorries (HEV) and 3rd in sales of batteries for high-end EV. Sunwoda’s battery cell production centers in Thailand will be its very first EV-related battery cell factory in the ASEAN area.

Thailand has actually long been a center in the traditional internal combustion engine (ICE) car market, ranking 10th on the planet and primary in Southeast Asia as a producer in 2023. Given that it began promoting financial investment in the sector’s electrification, with federal government policies providing aids, tax breaks and other rewards to makers and customers, the nation has actually drawn in substantial financial investments in the production of EV and hybrids.

Numerous significant Chinese makers of battery electrical lorries (BEV) have actually currently begun making automobiles in Thailand, consisting of BYD, SAIC Motor (MG), Great Wall Motor, Hozon New Energy Auto (Neta) and GAC Aion. Chongqing Changan Auto is set up to open its Thai factory in the coming weeks, while Chery Auto is presently constructing its regional production center. The Thai EV environment likewise consists of a fast-growing network of charging stations, the regional production of battery chargers and substantial cars and truck parts, and the assembly of battery packs and modules from imported cells.

In 2024, overall applications for financial investment promo in Thailand skyrocketed 35% in worth to 1.14 trillion baht, its greatest level considering that 2014, led by big foreign direct financial investment (FDI) tasks in information centers, cloud services, along with semiconductor and advanced electronic devices producing. The vehicle and parts sector ranked 3rd in regards to the worth of applications with 309 tasks, worth a combined worth of 102.4 billion baht

For additional information, please contact:
Thailand Board of Financial Investment
Tel. +66 (0) 2553 8111
Site: www.boi.go.th
YouTube: Believe Asia, Invest Thailand

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SOURCE Thailand Board of Financial Investment (BOI)