(REUTERS) – If more vehicles are going to be powered by electricity, what is going to happen to the ubiquitous petrol stations?
The head of Thailand’s biggest petrol station network is betting US$1.5 billion (S$2 billion) that motorists will soon be stocking up on a different kind of fuel – coffee.
That is the sum that Ms Jiraporn Kaosawad, chief executive of PTT Oil and Retail Business (PTTOR), is placing on rolling out thousands of coffee shops at home and abroad, along with other non-oil businesses, as global auto and fuel players gear up for a future dominated by electric car growth.
A month on from Thailand’s biggest initial public offering of the year, Ms Jiraporn’s plans for the Cafe Amazon business – already the No. 1 Thai coffee shop chain – present PTTOR’s take on the task facing oil majors from BP to Total: How to maximise profit from fuel networks as drivers of the…
