Testa and five partners signed a memorandum of agreement on battery research at the first Asean Battery and Electric Vehicle Technology Conference in Bali, Indonesia.
By signing an MoU on battery development with various EV businesses, Thailand is moving the industry of electric vehicles (EV) forward.The MoU intends to create a platform for research and innovation in battery technology, which is crucial for the expansion and sustainability of the EV market.
According to Pimpa Limthongkul, president of the Thailand Energy Storage Technology Association (Testa), a memorandum of agreement on battery research was signed by Testa and five partners during the first Asean Battery and Electric Vehicle Technology Conference in Bali, Indonesia.
The five partners who signed the MoU with Testa are the Singapore Battery Consortium, the National Center for Sustainable Transportation Technologies of Indonesia, the National Battery Research Institute of Indonesia, NanoMalaysia Berhad, and the Electric Vehicle Association of the Philippines.
The parties will collaborate to create a national plan for battery development, which will take into account factors including policy, regulation, standards, infrastructure, investment, and human resources, according to the MoU. Additionally, the parties agree to encourage and foster communication among those with an interest in the battery sector.
The MoU is anticipated to increase Thailand’s readiness and competitiveness in the EV sector, which is anticipated to experience substantial growth over the next few years.
In Thailand, the EV market is anticipated to reach 1.2 million units by 2030, or 25% of all vehicle sales, according to a Frost & Sullivan analysis. The report also made note of the importance of battery technology in determining how successfully EVs are adopted in Thailand.
The MoU is a component of Thailand’s initiatives to support environmentally friendly and low-carbon transportation, which are consistent with the nation’s goal of becoming a regional hub for EV innovation and production.
Thailand has already put in place a number of incentives and policies, including tax breaks, subsidies, and charging stations, to help the EV industry expand. With the MoU, Thailand will have even more potential and allure as a location for EV investment and cooperation.
