PTT and Foxconn Set Up HORIZON PLUS to Manufacture EVs

[snoop1130]

 

BANGKOK (NNT) - Thailand’s PTT and China’s Foxconn have established joint venture company HORIZON PLUS to manufacture electric vehicles (EVs) in Thailand in the Eastern Economic Corridor (EEC). The move is expected to propel the Kingdom as the EV manufacturing hub of ASEAN.

 

Dr Buranin Rattanasombat, PTT’s Senior Executive Vice President on Innovation and New Ventures, said the joint venture company will establish an EV production plant on a 350-rai plot of land in the special economic zone.

 

He also said the plant would be able to produce the first lot of EV sedans in 2024. The factory will have an initial capacity to produce about 50,000 EVs per year before increasing its capacity to 150,000 vehicles per year in 2030, in order to meet demand locally and within the ASEAN region.

 

Dr Buranin added that the joint venture signifies Thailand’s prowess in manufacturing Internal Combustion Engine (ICE) vehicles, as well as its potential to produce EVs in the future. He said FOXCONN’s expertise and technology will greatly reduce the time and cost for manufacturing EVs in Thailand.

 

He further noted that having a local EV factory will enable the Kingdom to make prototype EVs, including sedans and buses, and will eventually give the public access to a wider range of EVs in the future.

 

The joint venture also satisfies the policy of the Thai government to promote the production and use of EVs, elevates EV manufacturing as an industry, and moves Thailand towards achieving carbon neutrality.

 

-- © Copyright NNT 2022-02-08

 

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[Muhendis]

Such a shame Thailand cannot design their own EV but is simply a construction site for others.

[topt]

14 hours ago, snoop1130 said:

Thailand’s PTT and China’s Foxconn

So Taiwanese owned is already China's.............

[Srikcir]

First lot in 2024.

Meanwhile Chinese manufactured EV's (including Tesla) have been delivered for several years now, including BYD EV buses. 

Nearly 19 of every 100 passenger cars sold in China in just October 2021.

EV sales in Europe surpass diesel. One million battery EVs sold in 2021.

Norway EVs had a 86% market share in 2021.

South Korea EV sales in 2021 is the 7th-largest worldwide.

 

So Thailand gets a Chinese EV partner (probably with a lot of capital) and suddenly projects to be the EV Hub of Southeast Asia in 2024.