Chinese battery maker Sunwoda has secured approval to invest in battery cell manufacturing facilities in Thailand, marking its first EV-related battery cell plant in the ASEAN region, the country’s Board of Investment (BOI) announced.
The BOI said it has approved an investment exceeding $1 billion by a unit of Shenzhen-based Sunwoda Electronic to produce batteries for electric vehicles (EVs) and energy storage systems. “Today marks a milestone in the development of Thailand’s EV supply chain, as having EV battery cells produced locally will significantly reinforce our status as a manufacturing hub for EVs and hybrids, and increase the country’s competitiveness,” BOI Secretary General Narit Therdsteerasukdi said in a statement.
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The project will be led by Sunwoda Automotive Energy Technology (Thailand) Co Ltd, which plans to build its facilities in the Eastern Economic Corridor. The first plant, located in Chonburi Province, will focus on lithium-ion battery cell production for EV manufacturers.
The BOI noted that construction is progressing smoothly, with the plant expected to employ more than 1,000 people upon completion. The broader initiative will also include research and development efforts, employing a significant number of Thai engineers and researchers.
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Sunwoda, ranked as the world’s 10th largest EV battery manufacturer in 2024 with 18.8 GWh of installed capacity, is following the path of other Chinese battery makers localizing production in Thailand. However, unlike competitors such as Gotion High-tech and Svolt Energy, which have focused on battery pack assembly, Sunwoda’s project will produce battery cells locally.