Contemporary Amperex Technology (CATL) [300750:CH], a major Chinese power battery company, has agreed to supply battery technology and manufacturing equipment to Arun Plus, a subsidiary of the Petroleum Authority of Thailand, as reported by Caixin on June 10. The two companies have signed a cooperation agreement aimed at establishing Thailand as a prominent battery hub in Southeast Asia. While specific details were not provided in the statement released by CATL, the agreement is expected to bolster Arun Plus’ electric vehicle (EV) production capacity and foster a stronger power battery ecosystem in Thailand and the broader Southeast Asian region. Additionally, the partnership will enable CATL to explore collaboration opportunities with companies in Southeast Asia and other global markets.

In May of the previous year, CATL had already expressed its intention to cooperate with Arun Plus through the signing of a memorandum of understanding, with a focus on exploring battery-related business opportunities in Southeast Asia. CATL had also mentioned that it would grant authorization for its cell-to-pack technology to Arun Plus. This strategic move not only strengthens CATL’s presence in Southeast Asia but also fosters regional cooperation, positioning Thailand as a key player in the global battery market. The collaboration holds significant economic potential, attracting investments, generating employment opportunities, and driving sustainable development in the region.

Sources:

https://www.caixinglobal.com/2023-06-10/ev-battery-maker-catl-teams-up-with-thai-automaker-102064406.html

https://www.catl.com/en/news/6026.html

https://www.cet.com.cn/itpd/itxw/3393476.shtml