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January 13, 2022

PTT eyes Thai EV battery plant

New joint venture to evaluate EV battery making opportunities.

By Graeme Roberts

Thailand’s oil and gas conglomerate PTT has established a new joint venture with its power generation subsidiary Global Power Synergy (GPSC) to evaluate opportunities to build a new electric vehicle (EV) battery plant in the country, according to local reports citing group CEO Auttapol Rerkpiboon.

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The new company, called Nuovo Plus Company, is 49% owned by PTT’s wholly owned EV subsidiary Arun Plus Company while GPSC, which already has a small EV battery plant in the country, controls the remaining 51% of the equity. It has registered capital of THB4.2bn (US$125m) and initial paid-up capital of THB1.05bn.

Nuovo Plus will explore opportunities to invest in the EV battery supply chain ahead of plans announced last year by PTT to produce zero emission commercial vehicles in the country. It is looking to build a new battery plant facility in Rayong, on Thailand’s eastern seaboard, as well as establish an EV recharging network and set up a digital platform for EV drivers.

In September last year, Arun Plus signed a joint venture agreement with Taiwan’s Hon Hai Precision to produce battery powered commercial vehicles in the country. The facility will have an initial annual production capacity of 50,000 EVs, with operations scheduled to start in the next two or three years according to Auttapol.

GPSC also plans to scale up annual battery production capacity at its existing facility in the country to 1 gigawatt-hour (GWh) of semi-solid batteries from the current 30 megawatt hours.

Free Report
img

What does the future hold for the US electric vehicles market?

The US Electric Vehicles (EV) market has established itself as one to watch. Despite China maintaining the number one spot, the US holds significant standing as one of the major EV markets, with GlobalData’s whitepaper identifying a strong growth trajectory within the forecast period. This report further analyzes the trends, market drivers, and government incentives set to influence and facilitate the market.   This report also looks beyond the US and touches on environmental concerns set to drive the EV market worldwide.   Want to find out more? This report demonstrates GlobalData Explorer’s sector analysis capabilities, showing how you can:  
  • Get historical and forecast market sizing data, with country specific insight for 22+ of the world’s largest industries
  • Track sector dealmaking activity, to view aggregate volumes, specific deals and top investors for all major deal types in M&A, Capital Raising, and Partnerships
  • Analyze news from GlobalData Explorer’s News Database – enable screening and alerts by industry, company, geography and news sentiment for filtered insight
  • Identify and track the key disruptive trends that are keeping the top digital thought leaders talking through social media analytics
  Consult this report now to find out how you and your company can benefit from our Explorer platform.
by GlobalData
Enter your details here to receive your free Report.

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