BCPG and a joint venture of ATL and CATL – “Ampace” announce partnership to accelerate battery business for households, medium-scale industry, and electric motorcycles.
Niwat Adirek, President and CEO of BCPG Public Company Limited, and Jerry Jia, President of Xiamen Ampace Technology Limited, signed a Memorandum of Understanding (MOU) to jointly develop battery for two to three-wheelers electric motorcycles, residential areas, and industries, including seeking potential for setting up battery manufacturing plant to serve Thai and Southeast Asian energy markets.
According to Niwat Adirek, the MOU would expose BCPG to battery business for households, medium-scale industry, and electric motorcycles. The investment in battery business could also be beneficial to existing projects of BCPG and Bangchak Group, namely, “Winnonie” – E-bike rental service platform, Peer-to-Peer Energy Trading project at T77 and CMU Smart City project at Chiang Mai University, by leveraging projects’ performance in terms of energy management and cost savings.
Thai government aims to promote the use of 360,000 electric motorcycles within 2025 with subsidy program of THB 50,000 per unit, while the market value of electric motorcycles is expected to reach THB 18,000 million. In addition, solar rooftop’s market value could increase 22% per year and would reach THB 67,000 million by 2025. The solar rooftop system used in households accounts for 30%. The battery will lead to energy efficiency and electric bill savings by storing excess energy generated by solar rooftop during daytime and discharging it back to power home at night (6 – 10 PM) when electricity price reaches its peak.
“The partnership with Ampace will pave the way for BCPG’s new S-curve in the near future”, said Niwat.
Xiamen Ampace Technology Limited is a joint venture between Amperex Technology Limited (ATL, Hong Kong Special Administrative Region of China) and Contemporary Amperex Technology Co., Limited (CATL, Fujian China). The Company focuses on advanced lithium-ion battery business, covering the R&D, production, sales and services in three major fields, namely Energy Storage Systems, Micro Electric Vehicles and Power Batteries. As of 2022, the Company’s total sales volume reached USD 467 million.
KBANK AIMS TO BECOME ONE OF THE TOP 20 BANKS BY ASSET SIZE IN VIETNAM
LAND AND HOUSES ANNOUNCED ITS 2022 PERFORMANCE WITH PROFIT GROWTH OF 14%
