Svolt Plant

Svolt witnessed the roll-off of the 10,000th EV battery pack from its Thailand joint venture plant, following the production of the first battery pack in December 2023.

Svolt said it had to make the decision after the development of the European EV market failed to meet the expectations of all stakeholders.

That's because Svolt's operations in its home market in China are already struggling, and it can't afford to handle overseas factories that require a lot of capital, according to Caixin.

Svolt Energy expects its Thailand plant to supply more than 20,000 battery packs to local customers this year.

The battery pack, which is expected to be available in volume in the first quarter of 2024, will first be fitted to the Good Cat model of Great Wall Motor's Ora brand.

The plant will have two production lines for assembling battery modules and packs, with construction expected to be completed by the end of 2023.

Svolt Energy is planning to invest $30 million to build a battery module pack plant in Thailand, according to local media.

Svolt Energy previously had a plant in Germany for the production of battery packs.

The plant has a planned annual capacity of 22.3 GWh and is expected to be fully operational by the first half of 2023.

The project has a total site area of 482 mu (321,300 square meters) and a new construction area of 480,000 square meters.