On June 7, SVOLT Energy confirmed that SVOLT Energy Technology Co., Ltd. is planning to invest $30 million USD to build a new energy battery module PACK plant in Thailand. SVOLT Energy said that it has registered a wholly-owned subsidiary, SVOLT Energy Technology (Thailand) Co., LTD., and is planning the construction of a new plant in Thailand.

According to the data, SVOLT Energy, formerly the Power Battery Division of Great Wall Motor Company Ltd, has carried out the pre-research work of battery cells since 2012, established the battery Division in December 2016, and in February 2018, it independently became SVOLT Energy Technology Co., Ltd. since 2012. Headquartered in Changzhou city, Jiangsu Province, the company is mainly engaged in the research and development, manufacturing and innovation of next-generation battery materials, cells, modules, battery systems, BMS energy storage systems and solar technology.

SVOLT Energy has long planned to build a PACK plant in Thailand. As early as February this year, the Consul General of Thailand in Shanghai met with Mr. Feng Zhang, Co-Chief Operating Officer of SVOLT Energy, and Lei Chen, project manager of SVOLT Energy in Thailand, and exchanged opportunities to invest in the new energy industry in Thailand.

In May, the Thai government said a number of Chinese power battery manufacturers, including SVOLT Energy, were interested in investing in Thailand, which would boost the local electric vehicle industry.