New Plus joins forces with Gotion Hi-tech to set up a joint venture company, NV Gotion, to build a battery pack factory with a capacity of 2GWh, which is expected to start commercialization in 2023, propelling Thailand to become the leader in the ASEAN battery sector.
Nuovo Plus Company Limited (Nuovo Plus), a joint venture between Arun Plus Company Limited (Arun Plus) and Global Power Synergy Public Company Limited (GPSC), has reached an agreement with Gotion Singapore Pte. Ltd. (Gotion), a company of the group of Gotion High-tech Co., Ltd. established a joint venture under the name of NV Gotion Co., Ltd. (NV Gotion) today (December 15, 2022) with registered capital not exceeding 600 million baht in share Investment respectively 51% and 49% to import, assemble and distribute battery modules and battery packs for energy storage systems and electric vehicles (EV), ready to supply high-quality lithium-ion batteries to the domestic market. an initial production capacity of 1 gigawatt-hour per year and expand production capacity to 2 gigawatt-hour per year by 2025
Buranin Rattanasombat, Chief Operating Officer, New Business and Infrastructure Group, PTT Public Company Limited and Chairman of the Board, Nuevo Plus Company Limited revealed that manufacturing batteries for energy storage systems and electric vehicles is seen as a key to build renewable energy and electric vehicle commercial ecosystems This joint venture to establish NV Gotion is in line with the strategic direction of the group’s investments in the future energy business. PTT to accelerate the creation of Energy Storage and EV Value Chain to cover all dimensions from upstream to downstream. Combining the skills of Nuovo Plus and Gotion both in terms of research and the development of competitive production capacities. Technical service by experts who directly own the technology. And by providing integrated services in Thailand it will be able to offer a quality battery experience that meets international standards to industrial customers in Thailand and ASEAN.
NV Gotion to start construction of 2 GWh per year battery pack assembly plant in Eastern Economic Corridor (CEE), boosting country’s competitiveness through innovation and technology, and advancing country’s Net Zero goal from all sectors together.
Mr. Li Zhen, President of Gotion High-tech Co., Ltd. stressed the importance of the joint venture with PTT and Gotion’s intention that this cooperation will enhance Gotion’s business growth potential internationally and develop new alternative energies of the group. PTT, which will form a solid basis for future joint operations. Product quality is the key to success. This cooperation combines the strengths of both companies, especially the application of modern manufacturing technology to increase competitiveness in order to raise the Thai automotive industry to world-class standard. NV Gotion will join us to push the automotive industry to achieve ecology economic development goal by offering high quality products and excellent management to supply electric vehicle batteries to consumers in ASEAN region and other regions
