Nuovo 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 2 GWh, expected to start marketing in 2023, pushing Thailand to become the leader in ASEAN’s battery business.
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 in the group of Gotion High-tech Co., Ltd. established a joint venture under the name NV Gotion Co., Ltd. (NV Gotion) today (December 15, 2022) with a registered capital of no more than 600 million baht in the proportion Investment of 51% and 49%, respectively, to import, assemble and distribute battery modules and battery packs for energy storage systems and electric vehicles (EV), ready to deliver high-quality lithium-ion batteries to the domestic market. 2023 with an initial production capacity of 1 gigawatt-hour per year and expand production capacity to 2 gigawatt-hours per year by 2025
Mr. Buranin Rattanasombat, Chief Operating Officer, New Business and Infrastructure Group, PTT Public Company Limited and Chairman of the Board of Directors, Nuevo Plus Company Limited revealed that manufacturing batteries for energy storage systems and electric vehicles is considered a Key to building renewable energy and electric vehicle business ecosystems This joint venture to establish NV Gotion is in line with the group’s strategic investment direction 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 expertise from Nuovo Plus and Gotion both in terms of research and development of competitive manufacturing capabilities. Technical service from experts who own the technology directly. And providing integrated services in Thailand will be able to deliver a quality battery experience that meets international standards to industrial customers in Thailand and ASEAN.
NV Gotion will begin construction of a 2 GWh per year battery pack assembly plant in the Eastern Economic Corridor (EEC). Increase the country’s competitiveness through innovation and technology and push forward the country’s Net Zero goal from all sectors together.
Mr. Li Zhen, Chairman of Gotion High-tech Co., Ltd. emphasized the importance of the joint venture with PTT and Gotion’s intention that this cooperation will enhance Gotion’s business growth potential internationally as well as develop new alternative energy of the group. PTT, which will serve as a solid foundation for future joint operations. The quality of the product is the key to success. This cooperation combines the strengths of both companies, especially the application of modern production technology to increase competitiveness in order to raise the automotive industry of Thailand to world-class standards. NV Gotion will Join us in pushing the Thai automotive industry to achieve the country’s green economic development goal by offering high-quality products and excellent management to deliver batteries for electric vehicles to consumers in the ASEAN region. and other regions