Thai industrial park operator Rojana Industrial Park is joining forces with US based Evlomo to build an electric vehicle (EV) battery production plant in Chonburi, just east of Bangkok.
The two partners planned to invest just over US$1bn with the Thai listed company taking a 55% stake and Florida-based Evlomo owning the remaining 45%.
The plant, to be built in Nong Yai district, would ultimately have a production capacity of 8 gigawatt hours (GWh) of batteries and is expected to create some 3,000 jobs.
The plan would supply manufacturers of electric and hybrid-powered passenger and commercial vehicles across the ASEAN region.
It would also target the stationary energy storage market.