Thailand’s Board of Investment has approved an investment of more than $1bn by Chinese EV battery manufacturer Sunwoda on Thursday to build an EV battery plant. Thailand’s Board of Investment (BOI) confirmed the approval of the investment by a division of Shenzhen-based Sunwoda Electronic, which focuses on manufacturing batteries for electric vehicles (EVs) and energy storage systems (ESS) at the cell level.
Sunwoda’s Thailand subsidiary will establish the facility in Chonburi province, southeast of the capital, to produce lithium-ion battery cells. The region falls within the Eastern Economic Corridor, an area designated to elevate industrial development. The facility will be Sunwoda’s first EV-related battery cell plant in the ASEAN region, said BOI.
Narit Therdsteerasukdi, the board’s secretary-general, stated that the investment will amplify Thailand’s supply chain and EV production for both domestic and export markets. Sunwoda has already commenced construction at the site and plans to employ more than 1,000 workers, including Thai engineers and researchers, for the plant.
Sunwoda ranks among the world’s leading battery manufacturers. In 2024, the company installed electric vehicle batteries of 18.8 GWh, securing the 10th position globally with a market share of 2.1%, as reported by South Korean market researcher SNE Research.
Chinese automotive companies, including the state-owned Changan Automobile and Chery Automobile, as well as the electric vehicle manufacturer Hozon New Energy, have ventured into Thailand to build facilities in recent years.
According to the Federation of Thai Industries, Thailand’s automobile production in January totaled around 107,100 units, a decrease of nearly 25% compared to the previous year. The decline is attributed to sluggish domestic sales caused by strict lending policies from financial institutions.
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