【Hive Energy Thailand Battery Plant Put Into Production, Will Deliver Over 20,000 Sets of PACK Battery Packs This Year】

On February 28, Hive Energy held a commissioning ceremony in Thailand, announcing that Hive Energy Thailand plant was officially put into production on the same day, with products starting to be delivered in batches, which will soon be equipped on various new energy vehicle models under Great Wall Motors and EXEED in the Thailand market. The commissioning marked that Hive Energy Thailand plant achieved localized battery supply in Thailand with “bee speed” in just 5 months, further improving Hive Energy’s new energy industry layout in Asia Pacific region. Representatives from Thailand's Ministry of Industry, Thailand Board of Investment, Banpu Group CEO Somruedee Chaimongkol, Banpu NEXT CEO Sinon Vongkusolkit, Hive Energy Chairman and CEO Yang Hongxin, Great Wall Motors and EXEED Motors attended the commissioning ceremony.

This project is Hive Energy’s fastest constructed project from groundbreaking to commissioning. In order to better achieve localized production and supply of batteries in Thailand and serve local customers, Hive Energy Thailand plant adheres to the vehicle-level battery manufacturing standards consistently advocated, and has introduced Hive Energy’s advanced battery manufacturing technologies in China, adopting leading technologies, processes and equipment in current power battery industry. It integrates multiple AI intelligent manufacturing technologies such as digital monitoring, full mass tracing and analysis, and is highly fit for the EV3.5 policy needs in Thailand. In terms of production line setup, Thailand plant production lines have good flexibility to quickly switch between different product categories. The products manufactured by the Thailand plant are mainly supplied for Great Wall Motors’ ORA, Haval and Tank models and EXEED’s new energy vehicles in Thailand. At the same time, according to customer order demand, Hive Energy Thailand plant expects to provide over 20,000 sets of PACK batteries for local customers this year.

Yang Hongxin said the official commissioning of Hive Energy Thailand plant demonstrates Hive Energy's business philosophy of adhering to serve local customers as well as the determination to steadily promote the globalization strategy. Hive Energy Thailand plant currently has production capabilities and technical reserves for various products. After commissioning, the plant will further expand production supply capacity to better match auto companies going global and better meet local customer needs to ensure that the company focuses on market demand and advantageous industry products. In the future, Hive Energy will base itself on the global perspective and long-term interests, profoundly understand the local market, discern local customer needs, and provide local customers with better quality localized battery products and services.

Hive Energy Thailand plant is an important part of Hive Energy's internationalization layout, jointly established by Hive Energy (Thailand) Co., Ltd., a subsidiary of Hive Energy, and Banpu NEXT. It mainly operates in several areas such as automotive power batteries, e-bike & tricycle batteries, energy storage, recycling, etc. Currently, Hive Energy Thailand plant mainly supplies local Great Wall Motors and EXEED Motors, providing LCTP battery packs equipped with L600 prismatic cells to meet the mainstream battery demand for A-class vehicles in the Thai market. With this commissioning, Hive Energy uses China's innovative technologies to actively respond to China's new energy going global initiative, and helps Thailand to realize the goal of sustainable development and the vision of becoming a leader in comprehensive decarbonization in Asia Pacific region.