Hon Hai in EV joint venture with Thailand’s PTT 01 Jun 2021 (Last Updated June 1st, 2021 12:09)
Apple iPhone assembler Foxconn and Thailand’s state-owned energy conglomerate PTT have signed an agreement to establish a joint venture to produce electric vehicles in Thailand.
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Taiwan’s Hon Hai Precision Industry Company (better known as Foxconn) and Thailand’s state-owned energy conglomerate PTT have signed a preliminary agreement to establish a joint venture to produce electric vehicles (EVs) in Thailand, according to reports in Taiwan.
The two companies confirmed that a memorandum of understanding (MOU) was signed remotely by Hon Hai’s chairman Young Liu and PTT’s CEO Auttapol Rerkpiboon earlier this week. The agreement follows previously held face-to-face meetings between the two executives.