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-Set up NV Gotion company in Thailand, and Gotion plans to establish battery export base in ASEAN countries.
HEFEI, China, Dec. 15, 2022 /PRNewswire/ -- On Dec. 15, Gotion High-tech signed a cooperation agreement with Nuovo Plus of Thai PTT Group to create a joint venture named Thailand's NV Gotion Co., LTD (TBD, NV Gotion for short). The joint venture focuses on the design, development, manufacture, sale and export of battery modules and pack products, and aims to explore the ASEAN new energy market and build a battery export base in ASEAN. PTT Group is Thailand's largest state-controlled energy and petrochemical company. The partnership will help Thailand achieve full electrification and net zero carbon emissions by 2065.
That same day in the morning, the two parties signed the agreement by videoconference. PTT Group Director of New Business and Infrastructure and Nuovo Plus Board Chairman Buranin Rattanasombat and Gotion High Tech Chairman Li Zhen attended the meeting and witnessed the ceremony.
Under the agreement, Gotion Singapore PTE. Ltd. of Gotion High-tech has entered into strategic cooperation with Nuovo Plus Co., LTD of Thailand-based PTT group, and plans to establish Thailand NV Gotion Co. Ltd. ("NV Gotion") in the Eastern Economic Corridor ( EEC) of Thailand. The business scope of the joint venture includes the design, development, validation and manufacturing of battery packs and modules, as well as battery management systems for a wide range of vehicles and energy storage systems. NV Gotion plans to build a lithium-ion battery production line at EEC. By the fourth quarter of 2023, the first phase of the production line is expected to come online and provide high-quality battery products to the market. NV Gotion will actively explore new energy markets in ASEAN member states while carrying out local battery manufacturing and market development in Thailand. It is committed to building the ASEAN battery export base.
About Gotion High-tech
Gotion High-tech is a world leading provider of new energy solutions. It focuses on the R&D, production and sales of electric vehicle lithium-ion batteries and ESS batteries, and ranks among the first in China and the world market in terms of comprehensive strength. Gotion High-tech currently has more than 14 giant-scale battery manufacturing bases around the world. And with 5 battery material bases, their business also spans the entire battery supply chain, from seed to finish, including battery recycling.
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