Arun Plus aims for profitability with Thailand’s growing EV demand

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National oil and gas conglomerate, PTT Plc, is forecasting that its subsidiary company, Arun Plus Co, is likely to attain profitability in the next 3 to 5 years, fostered by higher demand from Thai drivers for electric vehicles (EVs).

 

Arun Plus was founded three years prior when PTT ventured into the EV sector as part of its futuristic energy plan. Ever since, the firm has been continually intent on EV assembly, EV rental development and battery production projects. Their underlying goal is to establish a robust EV ecosystem in Thailand.

 

One of the key endeavours in this direction is a joint venture, NV Gotion Co, which was established by Arun Plus in the battery business. Arun Plus has a stake of 51% in this venture with the balance of 49% held by Gotion Singapore Pte.

 

The JV has an ambitious plan to build a cell, module and pack battery manufacturing facility in Rayong by 2025. The projected production capacity is anticipated to equate to two gigawatt-hours per annum. The production is set to commence in H2 of next year.

 

by Alex Morgan

Arun Plus launching an EV car in 2022, autospinn.com

 

Full story: https://thethaiger.com/news/business/ptts-arun-plus-aims-for-profitability-with-thailands-growing-ev-demand

 

-- © Copyright Thaiger 2023-08-07

 

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[PETERTHEEATER]

I guess the 'demand' is only from Bangkok residents where range is of minor consideration.