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July 27, 2021

Thailand’s PTT Group expands further into EV business

A Thai energy company is digging deeper into electrified vehicles.

By Graeme Roberts

Thai energy conglomerate PTT Group has established a new subsidiary to operate a number of electric vehicle (EV) aftermarket services in the country from vehicle rental to recharging networks and vehicle maintenance.

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The new company, EVME Plus, will operate under the group’s Arun Plus Company – which is dedicated to supporting the expansion of Thailand’s EV market.

The new firm has registered capital of THB1bn (US$30m) and initial paid-up capital of THB340m. Further details about the company’s business plan were expected to be revealed soon.

The announcement came soon after PTT Group power generation subsidiary, Global Power Synergy, opened a new plant in Rayong province to produce semi-solid batteries for public service EVs such as small local buses, tuk-tuks and motorcycles.

The THB1.1bn factory, the first of its kind in southeast Asia, has initial production capacity of 30 megawatt-hours to be expanded to 1 gigawatt-hours (GWh) in the near future.

PTT signed a preliminary agreement in May with Taiwan Hon Hai Precision to collaborate in the production and sale of EVs and key components in Thailand.

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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