Taipei, Sept. 14 (CNA) Taiwan-based manufacturing giant Hon Hai Precision Industry Co. has agreed to team up with Thailand’s state-owned oil supplier PTT Public Co. to invest US$1-2 billion in launching an electric vehicle (EV) joint venture in Thailand.
Hon Hai, also known as Foxconn globally, which has aggressively entered the EV business, signed an agreement with PTT on Tuesday to open an EV production site, with the two partners setting their sights on the Association of Southeast Asian Nations (ASEAN) market.
Through the joint venture, PTT will use its subsidiary Arun Plus Co. to consolidate the group’s energy development resources and help the two partners build an EV development chain in Thailand, Hon Hai said.
EV designers, component producers, assemblers, power system providers and battery suppliers in Thailand are welcome to join the development chain to roll out their…
