Global Power Synergy PCL: Small jigsaw pieces will fit to make the big picture

  • Passenger EVs driving battery demand expansion
  • To succeed, a company needs a good partner …
  • …and advanced technology

GPSC has two unique advantages against other firms starting EV & battery businesses in Thailand—strong automotive partnerships and advanced battery technology. When its battery story builds form, it will trigger a stock price rally. GPSC remains our top pick among EV & battery plays.

Passenger EVs driving battery demand expansion

Battery demand is rising fast, with growth across many applications, but passenger EVs are driving demand. Thailand targets making 1.43m EVs/year by 2030 (so annual battery demand of more than 40GWh). The automotive industry generates many jobs and huge economic value, so the govt should soon announce a clear policy to support that roadmap (otherwise Thailand would risk losing the regional EV leader-ship race to other countries). If that scenario plays out, firms with the right strategy and execution ability will benefit hugely from the demand.

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