CATL to develop EV batteries with Thailand’s Arun Plus

BANGKOK — Chinese battery giant CATL announced on Thursday that it will open a factory in Thailand to assemble batteries for electric vehicles with Arun Plus, a subsidiary of Thai state-owned oil company PTT.

Arun Plus and CATL’s joint investment of 3.6 billion baht ($104 million) is the latest in Thailand’s push to become a hub for EVs in Southeast Asia as it seeks to protect its automotive supply chain against challenges from Indonesia.