PTT and Foxconn sign deal to make electric vehicles in Thailand

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By Panithan Onthaworn

 

Analysts on Wednesday voiced optimism on a joint deal to produce electric vehicles in Thailand between the kingdom’s largest energy firm PTT and Taiwanese leading electronics contract maker Foxconn.

 

PTT President Auttapol Rerkpiboon informed the Stock Exchange of Thailand late Tuesday that the firm has signed a deal to produce electric vehicles and parts. PTT subsidiary Arun Plus will hold a 60-per-cent stake of the joint venture, while Foxconn’s affiliate Lin Yin will hold the rest.

 

“PTT has a great potential to become a leader in the electric vehicle industry, as it will own a large proportion of market share backed by government support,” said analysts at Land and House Securities.

 

Full story: https://www.thaienquirer.com/32722/ptt-and-foxconn-sign-deal-to-make-electric-vehicles-in-thailand/

 

-- © Copyright Thai Enquirer 2021-09-16

 

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[JoePai]

The new compaany : Poxcont ?

[Srikcir]

Corruption of free enterprise once again in Thailand with majority shares owned by the government through state-owned PTT and government oversight as to what enterprise can compete in Thailand's EV market and control EV related product import taxation (eg., price import of Telsa EVs to be uncompetitive). 

How did that work out for state majority owned Thai Airways? But at least the government allowed private airline enterprises to compete.

If the government truly believed in free enterprise it should tell Foxconn to find a qualified Thai private enterprise to joint venture with (and that excludes other foreign national state-owned ventures that get Thai government contracts for infrastructure projects). 

[walt1]

Sure hope it turns out better than the deal Wisconsin got from Foxconn.

[Eric Loh]

Think it's electric car parts rather than making electric cars especially the electronic components that Foxconn has the technical expertise. 

[crazykopite]

The horse has bolted a good 5 years behind every other major EV manufacturer around the globe . 

 

 

[nong38]

It will be years before there are sufficient charging points across the country and the population want to change to electric traction, I see no electric machines on offer, lets talk again in 10 years time.

[VocalNeal]

Well at least the partner is not Chinese?

 

On a positive note Thailand, at present, does have a surplus of electric power.

Edited September 16, 2021 by VocalNeal

[Peterphuket]

3 minutes ago, nong38 said:

It will be years before there are sufficient charging points across the country and the population want to change to electric traction, I see no electric machines on offer, lets talk again in 10 years time.

Even for normal houses it is yet not possible to bring stable electricity.