BANGKOK, Sept. 24, 2021 /PRNewswire/ — EVLOMO is setting up 8 GWH Lithium battery plant in Thailand entailing a total investment outlay of $ 1.06 billion. The plant will have world class safety standards and will support the growing demand of energy storage and electric mobility.
EVLOMO has exited MoU with Rojana Industrial Park Public Co., Ltd. (SET: ROJNA) for setting up battery project at Nong Yai, Chonburi, Thailand. EVLOMO has finalized plots for battery plant in CPGC Industrial Estate located in the Eastern Economic Corridor, Thailand. CPGC Industrial Estate in Rayong is established by CG Corporation Co. Ltd., in cooperation with Industrial Estate Authority of Thailand.
Pre-FEED of the plant is complete. Construction is projected to break ground in first quarter of 2022 and the factory is planned to begin operations by second half of 2024. EVLOMO is also rolling out more than 1,000 new fast chargers across Thailand over the next five years, a move set to help accelerate widespread EV adoption.
Nicole Wu, CEO and Umaporn Waiwitlikhit, VP – Corporate Relations of EVLOMO commented: “We are thankful to Madam Hong Bo and all others at CG Corporation Co. Ltd., for making this possible. Our battery plant will vitalize Thailand’s electric mobility ecosystem and establish Thailand as a key player in the electric mobility space in Southeast Asia. This investment will allow us to take the lead in the lithium-ion battery industry, which is expected to grow significantly in the next few years.”