On February 28, 2022, an asset purchase agreement was signed between GPSC and NUOVO PLUS to transfer assets related to production, study, research and development of battery business to NUOVO PLUS. The transfer of assets will be completed in April. The total value is 2,428 million baht to support the growth of the electric vehicle industry and energy storage systems. It aims for battery capacity of 5-10 gigawatt hours (GWh) per year by 2030.
This transfer of assets This is the beginning of NUOVO PLUS’s battery business driving plan, including personnel preparation. technology and capital Expansion of PTT Group’s EV Value Chain Investment Opportunity with GPSC’s Battery Business to increase production cost competitiveness from Economy of Scale with the goal of expanding production capacity to gigawatt hours (GWh). for the opportunity to expand the market to the regional level At this stage, GPSC will transfer 24M Technologies’ SemiSolid Lithium-ion battery manufacturing technology for commercial production and distribution.
Mr. Worawat Pittayasiri, Chief Executive Officer and President of GPSC, the power business innovation leader of PTT Group, revealed that the joint venture The goal is to expand the battery business of GPSC and PTT Group into the electric vehicle market, which is a large and rapidly growing market both inside and outside the country. It is an important step of cooperation that brings together the strengths of both sides to join forces towards a common goal. Entering the Ecosystem of Electric Vehicle Manufacturing that can support the country’s future automotive industry development goals, which GPSC has the readiness and expertise in energy innovation business that can bring technology and the ability to produce batteries Come to cooperate with PTT. To drive the electric vehicle industry in line with the government’s policy to promote investment and use of electric vehicles in the country. which has a tendency to expand investment continuously Along with the development of energy storage systems (ESS) to meet the expansion of other related industries such as energy management and renewable energy. Support for regional markets as well
Mr. Buranin Ratanasombat, Executive Vice President, Innovation and New Business, PTT Public Company Limited (PTT) and Chairman of Nuovo Plus Company Limited said that Thailand is preparing to become a production base. EVs and the world’s major electric vehicle parts In line with the government’s 30/30 policy, ZEVs are targeted to produce at least 30% of total vehicle production by 2030, in line with the vision to drive all life with the power of energy. Future Powering Life with Future Energy and Beyond of PTT Group
NUOVO PLUS was established as a joint venture between ARUN PLUS and GPSC to be responsible for the battery business. By this cooperation It brings together the innovation, marketing and supply chain capabilities of the entire group. To accelerate the creation of the PTT Group’s EV Value Chain to cover all dimensions from upstream, midstream and downstream, producing batteries for electric vehicles is the key to success. in building a business ecology Increasing the country’s competitiveness based on technology lead Thailand to a low-carbon society value added economy and continued sustainable growth
Mr. Prasong Inthonongphai, Executive Vice President of PTT New Business Development and Director of Nuovo Plus Company Limited, said that the cooperation The signing of the Asset Sale Agreement between NUOVO PLUS and GPSC today is a symbol of the PTT Group’s commitment to an important mission in stepping into the battery manufacturing business to support the continued growth of the electric vehicle industry. Both in Thailand and the region, GPSC has initiated the development of a prototype battery production project with SemiSolid technology until the battery can be delivered to customers for application development together.
NUOVO PLUS will continue its mission of expanding commercial capacity in gigawatt hours. along with the development of various battery technologies of the PTT Group, which is in the process of studying to enter the prototype and commercial project level. NUOVO PLUS’s business operations will expand its scope to cover a wider range of Battery Value Chain, both in terms of module batteries and battery packs, as well as open to business partners who will strengthen and enhance. The potential of the battery business for electric vehicles to the production level of 5 – 10 gigawatt hours as the next target.
With this joint venture, NUOVO PLUS will be a manufacturer and distributor of batteries used in electric vehicles and various energy storage systems in order to quickly cover all battery customers. Which can be divided into 2 major groups:
(1) Mobility group, which is EV, E-bike, E-tuktuk, golf cart, small EV, E-bus, E-truck, E-boat, etc.
(2) Stationary group, including Energy storage systems (ESS), Uninterruptible Power Systems (UPS), charging systems for electric vehicles at service stations, etc. NUOVO PLUS also has a mission to provide Providing and selling various related equipment Along with studying the feasibility of finding new technologies that can meet the needs of the EV market both in the country and the region as well.
