SET-listed BCPG Plc, the clean power arm of Bangchak Corporation Plc, has joined forces with Xiamen Ampace Technology to sell batteries, amid rising demand from households and electric motorcycle drivers.
The partnership aims to establish a battery manufacturing plant to serve Thai and Southeast Asian energy markets, said Niwat Adirek, president and chief executive of BCPG.
He signed a memorandum of understanding (MoU) with Jerry Jia, president of Xiamen Ampace Technology, to jointly develop batteries for two- and three-wheeler electric motorcycles, residential areas and industry.
Entrepreneurs in medium-scale industries are the target customers of the two companies' new battery business, said Mr Niwat.
Xiamen Ampace Technology, a joint venture between Hong Kong-based Amperex Technology and Contemporary Amperex Technology Co, runs a lithium-ion battery business, covering R&D, manufacturing, sales and services in three major fields: energy storage systems, micro-electric vehicles, and power batteries.
"Investment in the battery business could also be beneficial to existing projects of BCPG and Bangchak Group," said Mr Niwat, adding that investment details will be unveiled after a feasibility study on the battery business is finished.
Their existing projects include a Winnonie E-bike rental service platform, which provides drivers with a battery-swapping service. Drivers whose batteries are running low can replace them with fully charged ones.
The government aims to promote the use of 360,000 electric motorcycles by 2025, with a subsidy programme of 50,000 baht per unit, while the market value of electric motorcycles is expected to reach 18 billion baht.
BCPG is piloting peer-to-peer trading platforms for electricity generated by rooftop solar panels in many areas, including Town Sukhumvit 77, also known as T77.
According to BCPG, the market value of rooftop solar panels could rise by 22% per year, and is expected to reach 67 billion baht by 2025.
Rooftop solar panels used by households make up 30% of all solar panel installations in Thailand. Batteries will allow homeowners to store electricity for use at night.
