Durapower Partners Banpu NEXT and Cherdchai Motors Sales Company to Capture EV Market Share

Durapower Technology (Thailand) Co., Ltd, Banpu NEXT, and Cherdchai will form a joint venture company to establish a battery assembly plant in the Nakhon Ratchasima Province of Thailand.

The company will be engaged in the assembly of battery systems, whereby Durapower will supply battery cells and modules, as well as related parts and components to the company, and license its technology to the company for the assembly of battery systems for various market segments, including Energy Storage Systems (ESS), marine applications, passenger cars, 2 and 3 wheelers, and heavy commercial electric vehicles (EVs). 

With the advanced technology and production support from Durapower, battery systems from this plant will boast high storage capacities to provide maximum discharge time and driving range in addition to fast-charging, lightweight designs, and high safety standards.

The plant plans to expand to 1 Gigawatt hours (GWh) by 2026 to support export to Asia-Pacific markets.

Mr Kelvin Lim, Chief Executive Officer of Durapower Group said: "Choosing the right partners is an important facet for a quick and successful market entry. We need established Thai partners with both the right experience and track record to go to market quickly, and also the right networks to help open up the Thai market for us.  Naturally, Banpu NEXT and Cherdchai were the ideal choices, and we are excited to see how we can collaborate closely to capture the growing demand for electrification in Thailand".