Posted on 21 Dec 2022
Shenzhen-listed Chinese leading lithium-ion battery Gotion High-tech has signed a joint venture agreement with Nuovo Plus Company. They are forming a joint venture called NV Gotion in Thailand to construct lithium-ion power battery production bases, Kallanish learns.
According to Gotion High-tech's announcement, the initial registered capital is THB 300 million ($86.11m). Singapore Gotion holds a 49% stake within the joint venture and Nuovo Plus holds a 51% stake within the joint venture. The total investment of this joint venture is about THB 600m, and the two parties invest based on their corresponding shareholding ratios.
The joint venture will offer design, development, verification, supply, and aftersales services for battery packs, modules, and management systems for batteries used for various kinds of commercial, passenger, and other EVs.
Nuovo Plus is a company headquartered in Donmueang, Bangkok, Thailand. It is mainly engaged in the investment of battery and related industry chains to support the development of Thailand's electric vehicle industry. It belongs to Petroleum Authority of Thailand (PTT) Public and is a joint venture of PTT Group and Global Power Synergy Public Company.
Gotion High-tech thinks it is an important step towards its expansion in Southeast Asia and is beneficial for reaching the net-zero emission goals for both the PTT Group and Thailand.
Source:Kallanish
