Thailand’s oil and gas conglomerate PTT has begun producing lithium-ion batteries to support its EV brand Neta and tap into the growing electric vehicle market.
Key Takeaways
- Thai oil and gas conglomerate PTT is entering the lithium-ion battery market to support its EV brand Neta and capitalize on the growing green car market.
- PTT’s joint venture with NV Gotion aims to produce 2 gigawatt-hours of lithium-ion batteries per year initially, with plans to increase capacity to 8 GW-hours to meet rising demand.
- The Thai government’s subsidies and incentives have attracted Chinese EV makers to Thailand, with all of them set to start manufacturing in the country next year, leading to a significant boost in battery demand.
The company’s joint venture, NV Gotion, has established a plant in Rayong province capable of producing 2 gigawatt-hours of batteries per year, with plans to increase…
