Thailand ready to support EV battery research and solve pricing problems

       One type of battery used in electric vehicles (EVs) is lithium-ion, the same type used in mobile phones and tablets, providing light weight, long service life, high energy, fast-charging, good charge retention, and no components that are harmful to nature. However, the elements are expensive and hard to find. In addition, when we want to put them in an electric car, it requires a very large number of batteries, which increases the price.

       In 2021, Thailand had the first gigafactory-level lithium-ion battery factory in the Eastern Economic Corridor (EEC) development project, with a production capacity of up to 1 GWh per year, which is the largest in ASEAN. In addition to enhancing the growth potential of EVs, electric vehicles also reduce global warming and support sustainability.

       The Board of Investment (BOI) supports the EV battery business by expanding the policy to reduce import duty on parts and raw materials used in battery production from 2 years to 5 years and to exempt corporate income tax for 8 years. The EEC will receive a 50% tax reduction for an additional 5 years, causing the battery business to expand its production capacity.

       However, as there is not much lithium ore in Thailand, much of it has to be imported for battery production, causing the National Science and Technology Development Agency (NSTDA), working with private companies, to develop EV batteries using zinc as a material, because this type of mineral is available in Thailand and has been used in a large number of studies and experiments. In the future, if it can push the use of zinc batteries, Thailand will have its own technology from raw materials available domestically, which will greatly facilitate commercial production.

Source: news.pptv@pptvthailand

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