PTT sets up new battery joint venture in Thailand

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The newest growth in the electrical car business in Thailand sees PTT and its energy era arm Global Power Synergy (GPSC) forming a joint venture firm to help the previous’s EV manufacturing, based on Bangkok Post. The state-owned oil and gasoline firm created a new agency, Nuovo Plus, to check a attainable funding in battery manufacturing and gross sales whereas PTT’s EV challenge is shaping up, stated president and CEO Auttapol Rerkpiboon.

On Wednesday, PTT reported the formation of Nuovo Plus to the Stock Exchange of Thailand. The firm owns 49% of the new entity by way of its subsidiary Arun Plus, whereas GPSC holds the remaining 51%. Nuovo Plus reportedly possesses a registered capital of 4.2 billion baht (RM528.7 million), with an preliminary paid-up capital of 1.05 billion baht (RM132.2 million).

The joint venture is aimed toward supporting the funding in a battery plant in Rayong in addition to the charging infrastructure and digital platform being developed to be used with EVs. The plan is for GPSC to scale up its battery manufacturing capability to a gigawatt-hour degree on the manufacturing unit, stated to be the primary semi-solid battery manufacturing facility in Southeast Asia.

Initially, the 1.1 billion baht (RM138.5 million) manufacturing unit, situated in the Map Ta Put space and producing G-Cell lithium-ion batteries for electrical tuk-tuks, buses and bikes, had a capability of 30 megawatt-hours a yr when it opened in August, with plans to spice up it to 100 mWh “soon”. On its official web site, GPSC states that its present battery manufacturing capability is now at 141 mWh a yr.

Last June, PTT announced a collaboration with Taiwanese electronics manufacturer Foxconn to create an EV factory situated in the Eastern Economic Corridor (EEC), utilising the iPhone maker’s {hardware} and software program companies and open to “all players” in the EV house.

The plant is reportedly value between US$1 and a pair of billion (RM4.18 to eight.37 billion) and can kick off manufacturing inside the subsequent two to a few years with an annual capability of fifty,000 autos. In November, PTT signed an agreement with Chinese EV maker Hozon Auto to check the alternatives of utilising the ability to construct the latter’s vehicles, in addition to the distribution of these autos.



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