US-based EVLOMO Technologies Company has announced plans to expand the network of super-fast electric vehicle (EV) charging stations across Thailand during 2022 after securing an investment budget of USD210 million from Deer Isle Group.
Aside from plans to expand the EV infrastructure across the country, EVLOMO is investing USD1.2 billion in Thailand to build an 8 GWh lithium battery facility. The new facility is located in Rayong, and will be a part of the Eastern Economic Corridor (EEC).
Thailand’s EV sector has been in the limelight since the government announced incentives between 2022 and 2023, including tax cuts and subsidies, to encourage EV usage and manufacturing.