Arun Plus aims for profitability with Thailand’s growing EV demand

National oil and gas conglomerate, PTT Plc, is forecasting that its subsidiary company, Arun Plus Co, is likely to attain profitability in the next three to five years, fostered by higher demand from Thai drivers for electric vehicles (EVs).

Arun Plus was founded three years prior when PTT ventured into the EV sector as part of its futuristic energy plan. Ever since, the firm has been continually intent on EV assembly, EV rental development and battery production projects. Their underlying goal is to establish a robust EV ecosystem in Thailand.

One of the key endeavours in this direction is a joint venture, NV Gotion Co, which was established by Arun Plus in the battery business. Arun Plus has a stake of 51% in this venture with the balance of 49% held by Gotion Singapore Pte. The JV has an ambitious plan to build a cell, module…