On February 28, SVOLT held a Mass Production Ceremony in Thailand to announce the official commencement of production at SVOLT Thailand factory. The products have begun to be delivered in bulk, and will be launched in Thailand market with various new energy vehicle models under Great Wall Motor and Hozon Motor. This commencement of production marks a significant milestone for SVOLT Thailand factory, as it has achieved localized battery supply in Thailand within just five months, further solidifying its new energy industry presence in the Asia-Pacific region. Representatives from various parties attended the ceremony, including representatives from the Minister of Industry (Thailand) and BOI, Ms. Somruedee Chaimongkol, CEO of Banpu, Mr. Sinon Vongkusolkit, CEO of Banpu NEXT, and Mr. Yang Hongxin, Chairman and CEO of SVOLT.

The construction and commissioning of this project have been among the fastest for SVOLT, marking a significant milestone in the company's rapid expansion. To better localize battery production and supply in Thailand and serve local customers, SVOLT Thailand factory adheres to the same automotive-grade battery manufacturing standards advocated by SVOLT. It has introduced SVOLT's advanced battery manufacturing technology from China, utilizing leading technologies, processes, and equipment in the power battery industry. The factory has integrated various AI smart manufacturing technologies such as digital monitoring and analysis, as well as full-quality tracing and analysis. It is also highly aligned with Thailand's EV3.5 policy requirements. In terms of production line setup, the factory has good flexibility, allowing for quick and easy switching between different product categories. The products manufactured at SVOLT Thailand factory primarily cater to the new energy vehicles of Great Wall Motor's ORA, Haval, Tank and so on, as well as Hozon Motor's new energy vehicles in Thailand. Additionally, based on customer order demands, SVOLT Thailand factory is projected to supply more than 20,000 sets of battery packs to local customers this year.

Mr. Yang Hongxin stated that the official commencement of SVOLT Thailand factory marks the company's commitment to adhering to a business philosophy of serving local customers and its determination to push forward with its globalization strategy. The SVOLT Thailand factory, now possesses the production capabilities and technical reserves for a wide range of products. Upon its inauguration, the factory will further expand its production supply capacity, better align with the automotive industry's overseas expansion plans, and ensure a focus on market demands and competitive products. Looking ahead, SVOLT will leverage a global perspective and a long-termism to deeply understand the local market and customer needs, providing customers with even better localized battery products and services.

SVOLT Thailand factory is an important part of SVOLT's international layout, established as a joint venture between SVOLT's subsidiary, SVOLT Energy Technology (Thailand) Co. Ltd., and Banpu NEXT, focusing on various areas including EV batteries, two-three-wheeler batteries, energy storage, recycling, etc. Currently, the SVOLT Thailand factory primarily supplies local car manufacturers such as Great Wall Motor and Hozon Motor with LCTP battery packs equipped with L600 Short Blade cells, meeting the mainstream battery demand for A-segment vehicles in the Thai market. With this inauguration, SVOLT is actively responding to the global trend of Chinese new energy vehicles by leveraging its innovative technologies from China. It aims to support Thailand's sustainable development goals and its vision to become a leading decarbonization hub in the Asia-Pacific region. This move further demonstrates SVOLT's commitment to providing high-quality, locally-tailored battery products and services, while contributing to the region's energy transition and environmental sustainability.