Thailand In Talks With Battery Maker CATL To Set Up Production Units: Report

  • Thailand is reportedly in talks with the Chinese battery manufacturing company Contemporary Amperex Technology Co. Limited (CATL) to build production units.
  • This comes on the heels of Thailand's government's push to project the country as a regional EV production hub, reported Reuters.
  • The second-largest economy in Southeast Asia aspires to become an important player in the EV supply chain through incentives, including tax cuts and subsidies.
  • By 2030, Thailand aims to convert around 30% of its 2.5 million vehicles produced annually into EVs, the report noted.
  • "We are talking to many companies, not only CATL but many companies in the battery industry," the report cited Secretary General of Thailand Board of Investment (BOI) Narit Therdsteerasukdi.
  • "This is one of our goals. That we would like to attract battery cell producers to set up their factory in Thailand."
  • CATL, with a market share of 37% has zero production facilities in Southeast Asia.
  • Narit said Thailand prefers investing in plants with a capacity of more than 8 gigawatt hours (GWh).
  • The report noted CATL has contracts with Ford Motor Co FHonda Motor Co HMCBMW BMWYY in addition to powering the vehicles of Tesla Inc TSLA and  Volkswagen AG VWAGY.
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