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Thailand Signs MoU on EV Battery Development with 5 partners
Thailand is taking a step forward in the electric vehicle (EV) industry by signing a memorandum of understanding (MoU) with several EV organizations on battery development.
The MoU aims to establish a collaboration platform for research and innovation in the field of battery technology, which is essential for the growth and sustainability of the EV market.
A memorandum of understanding on battery research was signed by Testa and five partners at the first Asean Battery and Electric Vehicle Technology Conference in Bali, Indonesia, according to Pimpa Limthongkul, president of the Thailand Energy Storage Technology Association (Testa).
The Singapore Battery Consortium, the National Center for Sustainable Transportation Technologies of Indonesia, the National Battery Research Institute of Indonesia, NanoMalaysia Berhad, and the Electric Vehicle Association of the Philippines are the five partners who signed the MoU with Testa.
According to the MoU, the parties will work together to develop a national roadmap for battery development, which will cover aspects such as policy, regulation, standardization, infrastructure, investment, and human resources. The parties will also support and facilitate the exchange of information, knowledge, and expertise among stakeholders in the battery industry.
The MoU is expected to boost Thailand’s competitiveness and readiness in the EV sector, which is projected to grow rapidly in the coming years.
According to a report by Frost & Sullivan, the EV market in Thailand is expected to reach 1.2 million units by 2030, accounting for 25% of the total vehicle sales. The report also highlighted that battery technology is one of the key factors that will determine the success of EV adoption in Thailand.
The MoU is part of Thailand’s efforts to promote green and low-carbon mobility, which is in line with the country’s vision to become a regional hub for EV production and innovation.
Thailand has already implemented various incentives and measures to support the development of the EV industry, such as tax exemptions, subsidies, and charging stations. The MoU will further enhance Thailand’s potential and attractiveness as a destination for EV investment and collaboration.
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