EVLOMO and Rojana to invest $ 1.06 billion for setting up 8 GWH Battery plant in Thailand

MIAMI,April 24,2021 --EVLOMO Incorporated and Rojana Industrial ParkPublic Co.,Ltd. (ROJNA)announced plans to setup 8 GWH Lithium Battery plant in the EEC of Thailand. Together,the companies will invest up to a total of $ 1.06 billion through a newjoint venture company. In this new JV company,Rojana Industrial ParkPublic Co.,Ltd. would own 55% shares and balance 45% would be owned by EVLOMO Incorporated.

The battery plant will be on a greenfield manufacturing site at Nong Yai,Chonburi,Thailand that will create more than 3,000 new jobs and bring required technology to Thailand,as achieving self-reliance in battery manufacturing is critical to Thailand's ambitious EV plans ahead.

The collaboration brings together Rojana,leader from industrial estate development sector of Thailand and with EVLOMO,leader in electric mobility in Thailand to develop and produce technologically advanced batteries. The battery plant will establish Nong Yai as an EV hub of Thailand and ASEAN region.

The technological aspect of the project will be led byDr. Li Qiyong & Dr. Xu,who would bring state-of-the-art technology to design and produce the lithium batteries in Thailand.

Dr. Li Qiyong,Former VP of LG Chemicals (Korea) battery research and development has more than 20 years of experience in manufacturing and management of lithium-ion batteries/lithium-ion polymer batteries and published 36 papers in international journals,29Authorized patents,13 patent applications (under review).

Dr. Xu,responsible for new materials,new technology development,new product applications for one of the top 3 battery producing companies of the world and has 70 invention patents and published more than 20 academic papers.

In the first stage both parties will setup 1 GWH plant with an investment of USD 143 Million in 18-24 months. Groundbreaking is expected to take place in 2021.

The batteries will be for electric four-wheelers,buses,heavy vehicles,two-wheelers,and energy storage solutions for Thailand and overseas markets.

"EVLOMO is honored to have a collaboration with Rojana. In the field of advanced EV battery technology,EVLOMO expects this collaboration will be one of the memorable moments for putting the adoption of EV forward in Thai and ASEAN market," said CEO Nicole Wu.

"The investment will play the role of vitalizing the EV industry in Thailand. We look forward to Thailand becoming a global hub for R&D,manufacturing and adoption of advanced energy storage and EV technologies in entire South-East Asia," said,Dr. Kanit Sangsubhan,Secretary General from Eastern Economic Corridor (EEC) Office was also present at the signing event.

Direk Vinichbutr,President of Rojana Industrial ParkPublic Co.,Ltd.said,"The EV revolution is taking the country by storm and we are happy to be a part of this change. This association with EVLOMO will enable us to deliver globally competitive products. We look forward to a strong and fruitful association."

For more information on EVLOMO please visitwww.evlomo.comand contact at info@evlomo.com.

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