The National Competitiveness Enhancement Commission of Thailand has approved China’s Sunwoda Electronic’s investment of more than $1 billion in the production of electric vehicle (EV) battery cells and energy storage systems. The move is intended to greatly enhance Thailand’s electric vehicle supply chain and speed the country’s transition to sustainable transportation.
Sunwoda Automotive Energy Technology (Thailand) will locate its cutting-edge production facility in the Eastern Economic Corridor. The first phase will involve the development of a lithium-ion battery facility in Chonburi Province, a major industrial region. Construction has already begun, and the initial phase is expected to provide over 1,000 jobs. More hiring is anticipated, particularly for competent Thai engineers and researchers, to sustain long-term expansion.
“This is a significant milestone for Thailand’s EV industry. Locally made EV battery cells would strengthen our manufacturing capabilities and position us as a regional leader in EV and hybrid production,” said BOI Secretary General Narit Therdsteerasukdi.
Sunwoda’s investment is consistent with Thailand’s overall aim to transition from traditional automobile manufacturing to electrification.
With investment promotion applications reaching a 10-year high of 1.14 trillion baht in 2024, Thailand remains a magnet for foreign investors.
