The plant will have two production lines for assembling battery modules and packs, with construction expected to be completed by the end of 2023.
(Image credit: Svolt Energy)
Svolt Energy, the battery maker that became independent from Great Wall Motor, has started construction of its battery module and pack plant in Thailand, as the Chinese electric vehicle (EV) industry chain targets international markets.
Svolt Energy held a ceremony on July 5 local time to celebrate the start of construction of the plant based in Sriracha Chonburi, according to an announcement yesterday.
The ceremony was attended by Thai officials, Svolt Energy's chairman and CEO Yang Hongxin, and representatives from Hozon Auto, the Chinese EV company that owns the Neta brand.
Svolt Energy's plant is based on the renovation and upgrade of a locally leased facility with a projected capacity of 60,000 packs per year, according to its announcement.
According to current plans, the plant will have two production lines, one for HEV, PHEV and BEV battery module production and the other for battery pack assembly.
Construction of the plant is expected to be completed by the end of 2023, Svolt Energy said.
While working with existing customers including Great Wall Motor and Hozon, Svolt Energy will also develop new customers and has started business talks with local Thai companies, it said.
The company will also join with local Thai partners to expand into energy storage, lightweight power batteries and battery recycling, Svolt Energy said.
Svolt Energy's announcement did not mention the amount of investment, although last month local media Cailian reported that the battery maker was planning to invest $30 million in the plant.
Svolt Energy was originally Great Wall Motor's power cell division, which began research and development of power cells in 2012.
It became independent from Great Wall Motor in February 2018 and works on next-generation battery materials, cells, modules, packs, BMS, and energy storage technologies.
The battery manufacturer currently has 11 production sites in China and one overseas production site in Heusweiler, Saarland, Germany, according to its website.
Svolt Energy is one of the largest battery manufacturers in China, with 0.35 GWh of batteries installed in May, ranking 11th in the country with a 1.23 percent share, according to the China Automotive Battery Innovation Alliance (CABIA).