The contract manufacturer Foxconn and Thai energy company PTT have created a joint venture for the production of electric cars in Thailand. Investments of one to two billion US dollars (about 850 million to 1.7 billion euros) are to flow into the large-scale project.
Foxconn has said that the Eastern Economic Corridor (EEC), a special economic zone of three provinces in eastern Thailand, is a potential location for the planned plant. Construction is expected to be completed and production started within two to three years. The initial production volume is expected to be 50,000 vehicles per year, and later up to 150,000 vehicles per year.
The establishment of the joint venture between Foxconn and PTT has already been announced several times. Since the beginning of June, the two partners have already been developing a joint electric car…
