BANGKOK, March 16, 2025 / – Thailand’s Commission on the National Competitiveness Enhancement for Targeted Industries has given the green light for an investment exceeding $1 billion by Sunwoda Electronic, a China-based company. This investment aims to boost the production of electric vehicle (EV) and energy storage system (ESS) batteries at the cell level, reinforcing Thailand’s supply chain and supporting both domestic and export-oriented EV manufacturing.
Mr. Narit Therdsteerasukdi, Secretary General of the Thailand Board of Investment (BOI), confirmed the approval, highlighting its strategic importance for strengthening the country’s EV industry. The Commission, chaired by Deputy Prime Minister and Minister of Finance, Mr. Pichai Chunhavajira, operates under the BOI’s oversight and was established in 2017 to support high-value industries that enhance Thailand’s global competitiveness sustainably.
Sunwoda’s Expansion in Thailand’s Eastern Economic Corridor
Sunwoda Automotive Energy Technology (Thailand) Co., Ltd. will establish its manufacturing base in Thailand’s Eastern Economic Corridor, with its first plant in Chonburi Province. This facility will focus on producing lithium-ion battery cells for EV manufacturers.
“This investment marks a significant milestone for Thailand’s EV supply chain, as the local production of EV battery cells will solidify our role as a key manufacturing hub for EVs and hybrids while boosting the country’s competitive edge,” stated Mr. Therdsteerasukdi. “Additionally, the project will facilitate the wider adoption of ESS and solar energy while creating thousands of jobs for Thai engineers and workers, ensuring valuable knowledge transfer in this critical industry.”
Construction of the first Sunwoda facility in Thailand is progressing as planned, with production set to employ over 1,000 staff initially. The broader project, which includes manufacturing, research, and product development, is expected to create even more jobs, including opportunities for Thai engineers and researchers.
Sunwoda’s Global Leadership in Battery Manufacturing
A subsidiary of Shenzhen-based Sunwoda Electronic Co., Ltd., Sunwoda Automotive Energy Technology specializes in battery production for various electronic devices, mobility applications, and energy storage systems. In China, Sunwoda’s SEVB brand ranked first in sales of hybrid electric vehicle (HEV) batteries and third in sales of premium EV batteries in 2023. The Thai facility will be Sunwoda’s first EV battery cell manufacturing plant in the ASEAN region.
Thailand’s EV Industry Growth and Investment Boom
Thailand has long been a major player in the internal combustion engine (ICE) automotive industry, ranking 10th globally and first in Southeast Asia for vehicle manufacturing in 2023. The government’s proactive policies promoting EV adoption—through subsidies, tax incentives, and investment-friendly initiatives—have attracted substantial investments in EV and hybrid vehicle production.
Several major Chinese battery electric vehicle (BEV) manufacturers have already established operations in Thailand, including BYD, SAIC Motor (MG), Great Wall Motor, Hozon New Energy Automobile (Neta), and GAC Aion. Chongqing Changan Automobile is set to launch its Thai factory in the coming weeks, while Chery Automobile is currently constructing its local production plant. The Thai EV ecosystem continues to expand, featuring a growing network of charging stations, local charger manufacturing, significant auto parts production, and battery pack/module assembly using imported cells.
Investment Surge in Thailand’s Automotive and Tech Sectors
In 2024, total investment promotion applications in Thailand surged 35% year-over-year, reaching 1.14 trillion baht—the highest level since 2014. Large foreign direct investment (FDI) projects in data centers, cloud services, semiconductors, and advanced electronics contributed to this growth. The automotive and parts sector ranked third, with 309 investment projects valued at 102.4 billion baht.
The approval of Sunwoda’s investment underscores Thailand’s commitment to fostering a world-class EV supply chain and securing its position as a regional leader in next-generation automotive technology.
