Huizhou-based lithium battery company EVE Energy has signed a Memorandum of Understanding with Thailand's Energy Absolute to explore the possibility of establishing an advanced manufacturing battery cell factory in Thailand. The proposed joint venture aims to construct a battery cell factory with a capacity of 6 GWh in the initial stage. This move aligns with EVE's international development strategy, as it seeks to meet the growing demand for lithium batteries in Southeast Asia. The Thai government's efforts to position the country as Southeast Asia's EV production hub further support this initiative, with a target of having at least 30% of its annual vehicle production as EVs by 2030.

Source: ESGNewsAsia