Thailand

THAILAND BUSINESS SEGMENTS

SEV’s COO, Mr Steven Kwek signs Share Purchase Agreement for Planet EV, with Mr. Prapat Rathlertkarn, President and CEO of Planet Communications Asia PLC.
  • SEV JV with PlanetComm, a listed company on the Thai Stock Exchange, to set up Planet EV Co. Ltd. Its activities include sales and leasing of Sokon electric vans, two-wheeler electric bikes and installation of fast charging stations, battery swap facilities and land management.

  • Thailand is the most potential EV technological market in SEA. Accounting for more than 70% of EV car sales in SEA, its current electrification rate is only 1.6% offering a huge potential for future growth.

     

  • SEV, in a joint venture with Planet Communications Asia PLC (PCA) to form ‘Planet EV’, has procured distributorship of Sokon electric vans, Seres Group’s commercial vehicles and OEM of electric two-wheelers. 

  • SEV is invited to be part of the growth and development of PCA’s “Silicon Valley of Thailand“ to manage 83 hectares of land in the vicinity of Rayong province. It is located within 1.5 hours drive from Bangkok City.

     

  • SEV designates 6 hectares within this land for research and development of batteries and assembly of electric two-wheelers, with potential partners from China and Southeast Asia looking to partner/lease managed land.

Awarded approximately 62 hectares of Industrial land in Rayong, Thailand. Tenure of land is 30+30 years with rental estimated to be no more than 1 Sgd/sq meter.

Obtained Preferential Industrial policies. Entities registered within Silicon Tech Park (STP, approximately 5km from current intended plot) enjoys tax benefits, including

Exemption from corporate tax (13 years)

Exemption from import taxes on machinery and equipments

Exemption from import duties on raw materials, 

and a 7%Value-added tax rate (VAT).

SEV acquires Takano Auto (Thailand)’s new EV plant. Takano Auto is licensed to manufacture 2/4/6 EV vehicles. (Thailand Government subsidizes Usd 4,500 for each EV car and Usd 700 for each EV two-wheeler manufactured). 

Motor               —- 3000w

Range               —- 150km/charge

Speed               —- 80km/hr

Wheel Size      —- 12inches

Battery type    —- Lithium battery

Sales Forecast 2024

  • Target sales for Sokon vans is 1,000 units.
  • Target sales for two-wheelers is 1,500 units for Pattaya, Phuket and Rayong.
  • SEV’s Thailand JV, partners BAK Power, China on Battery swap facilities for the two-wheeler.
  • BAK is established since 2005 and has powered more than 170,000 new energy vehicles.
SEV management met the mayor of Pattaya, Mayor Poramet Ngampichet, and hotel association of Thailand. They are fully supportive of green and sustainable innovation to support their tourism industry (Please see page 8 for the report from Singapore Straits Times dated 16 September 2022)

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