Energy Absolute PLC has announced plans to invest US $3 billion to build a battery gigafactory in Bangkok, Thailand. Energy Absolute is headquartered in Bangkok, Thailand and manufactures and distributes electricity through solar parks and wind farms. The company also manufactures methyl ester biodiesel, diesel oil and glycerin products.
Initially, the battery gigafactory will have a production capacity of 1GWh. The gigafactory is scheduled to begin production in Q-3 of 2019. Energy Absolute intends to eventually increase the battery gigafactory’s production capacity to 50GWh.
Currently, electric vehicles (EVs) and hybrids are rare in Southeast Asia. Energy Absolute anticipates the move to EVs will occur very quickly in the more developed countries in Southeast Asia. Energy Absolute plans to install up to 1,000 charging stations for electric vehicles across Thailand.
Energy Absolute is making an enormous investment in EVs and battery storage. In my opinion, Energy Absolute’s greatest financial risk is intense competition from competitors in the People’s Republic of China (PRC), Republic of China (Taiwan), Republic of Korea (South Korea), Japan and the Republic of Singapore.