Text: Huaxia Energy Network On March 13, Thailand''s Board of Investment (BOI) announced that it approved Sunwoda (SZ:300207) Sunwoda (SZ:) to invest more than 50 billion baht (about 10.8 billion yuan) to build a battery production facility in Thailand.
The move strengthens Thailand’s EV and energy storage supply chain as the country pushes to become a regional manufacturing hub. China’s leading lithium battery producer Sunwoda has received approval from Thailand’s Board of Investment (BOI) for a THB 50 billion ($1.5 billion) investment in local battery manufacturing.
The Chinese battery manufacturer says it will be making more than $1 billion worth of investments into battery cell factories in Thailand, following approval from public authorities.
Bloomberg New Energy Finance predicts that by 2030, the cumulative installed capacity of battery energy storage in Southeast Asia will reach 4.8CW/9.7GWh, an increase of more than five times from now. Second, the low cost and government investment incentives in Southeast Asia.
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