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Hon Hai Precision Industry Co (鴻海精密) and Thailand’s state-owned conglomerate PTT PCL yesterday announced a joint venture to produce electric vehicles (EV) in Thailand.
A memorandum of understanding (MOU) was signed virtually by Hon Hai chairman Young Liu (劉揚偉) and PTT president and chief executive officer Auttapol Rerkpiboon, the companies said in a statement.
The joint venture is a part of the Thai government’s goal to have electric vehicles account for 30 percent of all domestic auto production by 2030.
The government is prioritizing the EV industry and wants to maintain the country’s leadership in automotive manufacturing and exports, Thai Prime Minister Prayuth
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