Energy Absolute Signs MOU with Chinese EV Battery Experts to Set Up Plants in Thailand

Energy Absolute Public Company Limited (SET: EA) has announced that on 27 July 2023 the company signed a Memorandum of Understanding with EVE Energy Co., Ltd. (the No. 3 service provider of Lithium-ion battery technology of China, is an expert in electric vehicles and Energy Storage System (ESS)) and has signed a memorandum of understanding with Sunwoda Mobility Energy Technology Co., Ltd. (the No. 5 Lithium-ion battery manufacturer for electric vehicles in China and No. 9 in the global market, is an expert in PHEV/HEV batteries as well as Super-Fast Charge batteries) to study the setting up of a battery cell factory with the initial capacity of 6 GWh per year in Thailand. It is expected that the results of this study will lead to the setting up of advanced battery cell manufacturing plants at competitive costs in the electric vehicle (EV) and energy storage system (ESS) industries to serve the batteries demand in the EA group, including the battery market in Thailand and ASEAN.