Thailand Enters Partnership with 5 Organizations for Advancement of EV Battery Technology
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Loading... - Kaeo Phasuk
- 16 May 2023
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In a significant move towards advancing the electric vehicle (EV) industry, Thailand has signed a memorandum of understanding (MoU) with multiple EV organizations to focus on the development of batteries. The aim of this MoU is to create a collaborative platform for research and innovation in battery technology, which plays a crucial role in the growth and sustainability of the EV market.
The MoU was officially signed by Testa, a prominent organization, and five partners during the inaugural Asean Battery and Electric Vehicle Technology Conference held in Bali, Indonesia.
The partners involved in this agreement are 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.
This partnership signifies the commitment of the involved parties to jointly develop a comprehensive national roadmap for battery development. The roadmap will encompass various aspects such as policy formulation, regulatory frameworks, standardization procedures, infrastructure requirements, investment strategies, and the nurturing of skilled human resources.
Additionally, the parties involved will actively support and facilitate the exchange of valuable information, knowledge, and expertise among stakeholders in the battery industry.
The MoU is expected to significantly enhance Thailand's competitive edge and preparedness in the rapidly expanding EV sector. Frost & Sullivan's report highlights that the EV market in Thailand is projected to grow exponentially, with an estimated 1.2 million EV units accounting for 25% of total vehicle sales by 2030. Furthermore, the success of EV adoption in Thailand will heavily rely on advancements in battery technology.
This MoU aligns with Thailand's overarching vision of promoting green and low-carbon mobility while positioning itself as a regional hub for EV production and innovation. The country has already implemented a range of incentives and measures, including tax exemptions, subsidies, and the establishment of charging stations, to support the development of the EV industry.
The signing of this MoU will further bolster Thailand's potential and attractiveness as a prime destination for EV investments and collaborations.
