BANGKOK (The Nation/ANN): National oil and gas conglomerate PTT has partnered with Taiwan’s Foxconn in a deal to produce electric vehicles (EVs) in Thailand.
On Monday, the two companies announced they had signed a memorandum of understanding to manufacture EVs and components at an online ceremony overseen by Prime Minister Prayut Chan-O-Cha.
The deal is for an “open platform” that provides hardware and software to Thailand-based automakers, though no details of the size of investment were given.
Foxconn said it will tap its own MIH industry-wide alliance of EV manufacturers to boost the platform in Thailand.
"This cooperation with PTT and the Thai government to realise the vision of sustainable development of the EV industry, demonstrates that the MIH ecosystem is growing," said Foxconn chairman Liu Young-way, as quoted by Reuters.