NV Gotion has reported that its first locally produced battery pack has rolled off the production line in Thailand. The pack is based on a lithium iron phosphate chemistry and has a capacity of 38 kilowatt-hours. According to the Thai joint venture between Gotion High-Tech and Nuovo Plus, this enables the production of electric vehicles with a range of 400 kilometers, which meets the demand on the local market.
Mass delivery in first quarter of 2024
The battery pack has been officially designated for Neta Auto and is expected to be delivered in large quantities in the first quarter of 2024. On December 15th of 2022, Gotion announced that its wholly-owned subsidiary Gotion Singapore had signed an agreement with Thailand’s Nuovo Plus Company Limited to establish the NV Gotion joint venture. It has an initial share capital of approximately 8.5 million US dollars, with Gotion Singapore holding 49% and Nuovo 51% of the shares.