Hon Hai aims to take e-vehicle venture with Thai partner public

Taipei, Aug. 28 (CNA) Taiwan-based manufacturing giant Hon Hai Precision Industry Co., which has moved aggressively into the electric vehicle market, is looking to take an EV joint venture with Thailand’s state-owned oil supplier PTT Public Co. Ltd. public.

At an online forum — The Future Energy Asia — held Friday, Hon Hai Chairman Liu Young-way (劉揚偉) said his ambition was for the EV joint venture to become a benchmark for EV development in Thailand and for it to launch an initial public offering in 2025.

Liu said the partnership is expected to lead to a comprehensive EV ecosystem in Thailand.

At the end of May, Hon Hai, also known as Foxconn internationally, announced it had signed a memorandum of understanding with PTT to enter the EV market in Thailand by setting up an open platform for producing EVs and key components for the EV sector there.

Under the MOU, the platform,…