Thai Oil Company to Make EVs With Foxconn

#Thailand #EV #PPT #Foxconn

$2354.TW

“PTT, Foxconn to make electric vehicles in Thailand“- Paul Ebeling

Taiwan’s Foxconn has announced a partnership with state-run energy group PTT Plc to make electric cars in Thailand, adding to a string of such deals by the iPhone assembler as it makes forays into the EV market.

Foxconn, Apple’s main iPhone maker, has expanded its activities in electric vehicles (EVs) over the past year or so, announcing deals with Chinese electric-car maker Byton and automakers Zhejiang Geely Holding Group as well as Italian automobile company Stellantis.

Foxconn and PTT have signed a MOU (memorandum of understanding) to cooperate in making EVs and their components for the Thai market, the two companies said in a statement, which also said that the virtual signing ceremony was presided over by Prime Minister Prayut Chan-o-cha.

Under the partnership, an “open platform” that provides both hardware and software services will be available to automakers in the country, the statement said, without giving details such as size of the investment and production plans.

Foxconn’s EV foray could become a threat to established automakers, in which non-traditional players could use contract assemblers such as Foxconn as a shortcut to competing in the vehicle market.

Have a healthy day, Keep the Faith!

#EV#EVs#Foxcon#Foxconn#PPT#Thailand