• They are the first locally-made battery packs in the Thailand market and have been designated as the product for Neta Auto.

• With a planned annual production capacity of 2GWh in Phase I, it is estimated that 8GWh per year can meet the market demand of Thailand and other countries in the ASEAN region in the future.

  
  

"I announce that the first battery products of Gotion High-tech's plant in Thailand officially are rolled off the production line!" On the morning of December 7, in the Siam Eastern Industrial Park, Rayong, Thailand, with the announcement by Shan Xiangqian, Vice Governor of the People's Government of Anhui Province, the first battery products of NV Gotion, Gotion High-tech's joint venture in Thailand, were officially rolled off the production line. This marks the official start of Gotion High-tech's batteries "made in Thailand". Mr. Auttapol Rerkpiboon, CEO of PTT Public Company Limited (PTT), Mr. Wirat Tatsaringkansakul, Deputy Secretary General of Thailand Board of Investment, and Mr. Li Zhen, Chairman of Gotion High-Tech, witnessed the event.

At about 10:00 a.m. that morning, when two Thai workers tightened the last two screws, Thailand's first locally-made battery packs finally underwent all assembly processes and were officially rolled off the production line. With a charging capacity of 38kWh and a range per charge of 400km, such LFP battery packs can meet the mainstream battery demand of Class A vehicles in Thailand's new energy vehicle market. According to Yu Qiang, Marketing Director of NV Gotion, Gotion High-tech's first battery packs in Thailand boast excellent performance and economic advantages in the local market. They have been officially designated as the product for Neta Auto and are expected to be supplied in bulk in the first quarter of next year.

Sun Xiyi, CEO of NV Gotion, said that the pack production capacity of Phase I of the Thailand-based plant was planned to be 2GWh per year and would be expanded to 8GWh per year according to future market demand. Statistics show that in the first three quarters of this year, the number of registered new energy vehicles in Thailand exceeded 50,000, 7.6 times that of the same period last year. This reflects huge market potential. In addition, Gotion High-tech reached strategic cooperation with Hozon New Energy Automobile in 2023 and become the designated supplier for multiple models of Neta Auto under the company.

NV Gotion is a joint venture between Gotion High-tech, a leading power battery enterprise in China, and Nuovo Plus, a new energy solution provider in Thailand. Nuovo Plus, a subsidiary of PTT Group in Thailand, is mainly engaged in the battery business and business related to battery industry chain investment. PTT Group is Thailand's largest state-controlled energy and petrochemical company and a Fortune Global 500 enterprise.

Mr. Auttapol Rerkpiboon, CEO and President of PTT, revealed that PTT Group is committed to reducing greenhouse gas emissions to net zero within Year 2050, with the recognition of the urgent importance of global climate change. PTT Group has introduced advanced battery technology and innovative products via the battery gigafactory jointly built by Nuovo Plus and Gotion High-tech in Thailand. By doing so, it can accelerate the achievement of its goals regarding the new energy vehicle value chain and clean energy industry.

Li Zhen, Chairman of Gotion High-tech said that the new energy revolution, with a focus on "solar energy, wind energy, and energy storage", has opened up immensely vast opportunities in the new energy industry. Gotion High-tech's plant in Thailand has been completed and rapidly put into production after 11 months. The first locally-made battery packs have been rolled off the production line, marking the fruitful outcome of the cooperation between the two parties. It also represents a significant milestone in Gotion's global presence, and brings Thailand closer to becoming a leader in the ASEAN battery market.