Energy Absolute Plc (EA) expects to start making batteries for electric vehicles (EVs) at its production factory in Chachoengsao in June, marking its presence in the industry this year.
“The move signals significant progress in the EV supply chain in Thailand because batteries are a major component of EVs,” said EA deputy chief executive Amorn Sapthaweekul.
Production at the 6-billion-baht facility will begin with a trial run of its machinery.
Mr Amorn expects the EV industry in Thailand to shape up this year after the National New Generation Vehicle Committee on March 25 approved the private sector’s plan to have EVs make up 50% of total car manufacturing by 2030, an increase from 30%.
EA is also developing an EV assembly plant in Chachoengsao at a cost of 1.8 billion baht. It is scheduled to be operational around the middle of this year.
Mr Amorn said the first order of 5,000 sedan EVs for taxi operators from this assembly plant was postponed due to the pandemic, however, it would still distribute 400 electric buses in the middle of this year and 600 by the end of this year to privately-run bus operators in Bangkok.
He expects EV and battery production to make up 20% of the company’s total revenue in the first year while its renewable power generation business will account for 50% with the rest generated by its biodiesel and oleochemical businesses.
EA yesterday also distributed EV charging outlets to Big C Super Center Plc at its Lat Phrao Soi 2 branch. More outlets at eight other branches will be installed by the end of this year.