Thai national oil and gas conglomerate shifts to EV industry
With the Government of Thailand having launched electric vehicle (EV) incentive packages benefiting both manufacturers and buyers early this year, several major corporations are pushing for production of EVs and batteries and building of charging facilities.
Thailand’s Electric Vehicle Link Charging Station. (Photo: industrytoday.com)
Bangkok (VNA) – Withthe Government of Thailand having launched electric vehicle (EV) incentivepackages benefiting both manufacturers and buyers early this year, severalmajor corporations are pushing for production of EVs and batteries and buildingof charging facilities.
Thai national oil and gasconglomerate PTT Plc is one of them, who wants to revamp its corporate image asa key manufacturer in the growing electric vehicle industry.
President and chief executiveAuttapol Rerkpiboon, together with subsidiaries under PTT, are pushing aheadwith EV-related projects, notably those under cooperation with technologycompanies.
PTT has its own plans to assembleEVs, produce batteries, expand EV charging facilities, and provide EV rentalservices, all of which are making good progress, according to Auttapol.
PTT and Hon Hai Precision Industry, knownglobally as Foxconn, are jointly developing an EV production facility worth 1-2billion USD in the Eastern Economic Corridor.
With the state's ongoing promotionof the domestic EV industry, Auttapol said he expects many global EVmanufacturers to make more investments in Thailand. PTT will initially helpthem with EV production, rather than spend a huge amount setting up afull-fledged facility to make EVs under a new brand, he said.
Production of EVs is scheduled tostart in 2024 with a capacity of 50,000 units per year. The number is slated torise to 150,000 per year by 2030.
PTT is growing its battery businessby partnering with companies specialising in battery manufacturing, as well asconducting R&D to improve battery technology.
Arun Plus formed a joint venturewith PTT's power generation arm Global Power Synergy Plc (GPSC) to produce EVbatteries using technology from Boston-based 24M Technologies Inc in the US./.
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Thailand’s Electric Vehicle Link Charging Station. (Photo: industrytoday.com)
