Jul 06, 2023 06:11 PM

BUSINESS

Chinese EV-Battery Maker SVOLT Breaks Ground on Thai Factory

By Kelsey Cheng and Yu Cong

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What’s new: Chinese lithium-ion battery-maker SVOLT Energy Technology Co. Ltd. has kicked off the construction of its Thailand factory, the company said Wednesday.

The company expects to complete construction by the end of the year and estimates the facility will have an annual capacity of 60,000 battery packs, according to a statement .

The factory will have two production lines, one for making soft-pack battery packs for hybrid vehicles and another for short-blade battery packs used in plug-in hybrids and pure electric-vehicles (EVs), the company said.

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