PTT Oil and Retail Business (PTTOR), Thailand’s state-run oil company, recently announced that it intends to establish the country’s largest electric vehicle (EV) charging network, aiming at establishing 7,000 outlets by 2030 from just 139 now.
The move is part of PTTOR´s strategy of expanding into the alternative energy business, such as EVs and non-oil fuels. PTT currently has a network of 2,500 petrol stations located mostly in Thailand. They will underpin the company´s expansion into EV charging.
PTT Oil and Retail Business also counts a large coffee franchise business under its Cafe Amazon brand, which has 4,120 coffee houses, including those located in its petrol stations, and interests in other fast-food franchise businesses.
In early 2023 the company announced its Horizon Plus joint venture with Taiwan’s Hon Hai Technology Group. The two partied plan to begin production of battery electric vehicles (BEVs) at a plant Chonburi province by 2024.
Thailand has set an ambitious target for EVs to represent 50% of locally-made vehicles by 2030, as it seeks to establish a regional EV manufacturing hub in the country.
(Sources: PTT Oil and Retail Business; Junst-auto.com)