Malaysia, Thailand, and Vietnam are receiving increasing investments in the electric vehicle (EV) supply chain.
Samsung SDI invests US$1.3 billion in battery production in Malaysia
According to Reuters, Samsung SDI is building a new US$1.3 billion battery factory in Seremban, Malaysia to produce cylindrical batteries. The factory is scheduled to complete construction in 2025 and the batteries are expected to be implemented in power tools, micro-mobility, and EVs. It will be Samsung SDI’s second battery factory in Malaysia.
VinES and Gotion to form battery JV in Vietnam
According to VIR, VinES Energy Solution is cooperating with China battery maker Gotion to develop its second lithium battery factory worth of US$274 million in Ha Tinh province, Vietnam. Gotion is taking a 51% stake in the joint venture, and VinES 49%.
LG Group considers investment in Vinh Phuc, Vietnam
According to the Investor, LG is evaluating investment in Vinh Phuc province, Vietnam. Vinh Phuc is part of Vietnam’s Northern Key Economic Zone. The South Korean group is the largest foreign investor in the port city of Hai Phong, Vietnam, where it produces panels, electronics, and electronic components.
Thailand sees a surge in interest in the EV supply chain
According to Nikkei Asia, Thailand’s EV plan attracted investment from a state-owned firm and a startup. Global Power Synergy (GPSC), the utility arm of Thailand’s state-run energy company PTT Group, and renewable startup Energy Absolute (EA) invested US$73.6 billion and US$54.5 million respectively in EV battery production.
Thailand to build a new smart city southeast to Bangkok
According to the Edge Markets, Thailand plans to build a US$37 billion smart city near Bangkok. The new smart city in Chonburi province will take 10 years to construct, officials said. There will be at least five business centers including a hub for regional headquarters of firms, a financial center, and areas for precision medicine, international research and development, and future industries such as clean energy and 5G technology.
