PTT is collaborating with NV Gotion to build these EV batteries
Thailand’s state oil giant, PTT Public Company Limited (PTT), formerly known as the Petroleum Authority of Thailand, is venturing into lithium-ion electric vehicle (EV) battery production this year in collaboration with NV Gotion, a joint venture between PTT and Gotion High-tech with the aim of establishing a robust supply chain for the former’s EV brand, Neta.
The manufacturing facility responsible for producing these batteries is located in Rayong province, southeast of Bangkok. This advanced facility boasts an annual production capacity of 2 gigawatt-hours (GWh) of lithium-ion batteries, underscoring PTT’s commitment to the transition towards sustainable energy sources for a more sustainable future.
Moreover, PTT’s decision to enter the lithium-ion battery market aligns with its strategic shift towards sustainability and reflects a broader trend within the automotive industry towards electrification. By focusing on battery production, the brand aims to strengthen its position in the burgeoning EV market while reducing reliance on traditional petroleum-based energy sources.
This move represents a significant step forward for PTT, leveraging its expertise in energy to contribute to Thailand’s growing electric vehicle ecosystem. The establishment of a local battery production capacity is not only crucial for Neta’s supply chain but also for supporting Thailand’s broader ambitions in electric mobility and renewable energy.
On top of that, the Rayong facility’s capacity of 2 GWh annually positions PTT as a major player in Thailand’s emerging battery manufacturing sector. This development is expected to create new job opportunities and stimulate economic growth in the region while promoting technological innovation in the country’s automotive and energy sectors.
Furthermore, PTT’s foray into lithium-ion battery production underscores a strategic pivot towards sustainable practices and underscores the company’s commitment to environmental stewardship. As global demand for EVs continues to rise, the brand’s investment in battery manufacturing represents a proactive response to market trends and consumer preferences.
Overall, PTT’s partnership with NV Gotion and its entry into lithium-ion battery production exemplify the company’s forward-thinking approach towards sustainable energy solutions and its determination to play a key role in shaping Thailand’s EV landscape. So will this be able to help push the EV market forward not just in Thailand but globally too?
Well, at the end of the day, if this JV helps Neta bolster its EV battery supply, then it should help the brand keep up with customer demand, if nothing else. What do you guys think, though?
