Thailand’s state-run oil company PTT Oil and Retail Business said it planned to establish the country’s largest electric vehicle (EV) charging network, with 7,000 outlets by 2030 from just 139 now, according to local reports.
This is part of the company’s focus on expanding into the alternative energy business, including EVs and non-oil fuels. PTT currently has a network of 2,500 petrol stations located mostly in Thailand which will underpin its expansion into EV charging.
The company also has a large coffee franchise business under its Cafe Amazon brand, which has 4,120 coffee houses, including those located in its petrol stations, and interests in other fast-food franchise businesses.
Earlier this month PTT announced its Horizon Plus joint venture with Taiwan’s Hon Hai Technology Group planned to begin production of battery electric vehicles (BEVs) at a plant Chonburi province by 2024.
The Thai government has set a target for EVs to represent 50% of locally-made vehicles by 2030, as it wants to establish a regional EV manufacturing hub in the country.