PTT subsidiary GPSC plans EV battery plant
Global Power Synergy, a subsidiary of PTT, plans to set up a factory in Thailand next year to make batteries for electric vehicles, PTT president and chief executive officer Tevin Vongvanich said recently. He said the company’s board visited a battery plant in the US city of Boston last week operated by 24M Technologies Co, a start-up business in which GPSC holds an 18-per-cent stake. The plant produces lithium-ion batteries, using technology that change electrolytes from liquid to semi-solid state, which reduces battery size and speed up the production process. Production costs are also lower than for normal batteries. GPSC signed an agreement with 24M Technologies for the copyright to produce lithium-ion batteries in Thailand and ASEAN countries to be used as backup storage for the energy grid, which will support alternative energy such as wind and solar.
