“PTT-Foxconn” piles EV factories, investing 37 billion, accelerating production in 2024

Horizon Plus Company Limited which is a joint venture between Arun Plus Company Limited (PTT subsidiary) withHong Hai Precision Industry Co., Ltd. (Foxconn) Held a foundation stone laying ceremony for an electric vehicle (EV) factory at Rojana Nongyai Industrial Estate. Chonburi Province on November 12, 2022

for such investment Implement BOL (Build-Operate-Localize) concept and key goals to developAutomotive Industry and Supply Chain to build long-term competitiveness The plant will be set up on a production base of 500,000 square meters to support the transition of the Thai automotive industry from traditional internal combustion engines (ICE) to electric vehicles.

however Horizon Plus Company Limited Will perform design and production services according to the contract to serve all brand owners who want to produce cars in Thailand usingMIH platform in reshaping EV production around the world It is a platform that brings together manufacturers of electronic components and software for EVs around the world.

"PTT-Foxconn" Pile the EV factory, investing 37 billion, accelerating production in 2024
Horizon Plus Company Limited It is expected to invest 37 billion baht or about $ 1 billion to build electric vehicle production equipment, aiming to complete and reach the production delivery stage in 2024 and will initially have a production capacity of 50,000 vehicles per year and will Gradually increase to 150,000 cars per year to meet the increasing demand of the ASEAN electric car market by 2030.

"PTT-Foxconn" Pile the EV factory, investing 37 billion, accelerating production in 2024
The website of Hong Hai Precision Industry Co., Ltd. (Foxconn) reported the foundation stone laying ceremony on November 12, 2022, with participants such as Mr. Narit. Terdsathirasak Secretary General of the Office of the Board of Investment (BOI) , Mr. Piriya Khempol Special Advisor of the Eastern Economic Corridor Office (EEC) , Dr. Zhuang Suohan, Representative of the Taipei Economic and Cultural Office in Thailand, Jian Yibin, General Manager of Business Group D of Hon Hai Technology Group

Dr. Thosaporn Sirisamphan, Chairman of the Board of PTT, said at the ceremony that The laying of the foundation stone marks another important step in the cooperation between PTT and Honghai to promote EV production in the region around the world. and to move towards a low carbon society The aforementioned approach is in line with the direction of PTT in creating energy security for Thailand as well as developing upstream and downstream supply chains Including providing good service for EV users.

"PTT-Foxconn" Pile the EV factory, investing 37 billion, accelerating production in 2024
Mr. Auttapol Rerkpiboon, Chief Executive Officer and President of PTT He said the cooperation between the two parties would not only focus on EV production and investment. but also investing in research and development Including knowledge transfer and labor training. Including an EV factory will strengthen the Group’s electric vehicle supply chain. PTT as well as promoting the ASEAN electric vehicle industry.

In addition, the website It also reported that automobiles are one of the main industries in Thailand’s economy. Which accounts for about 6% of Thailand’s GDP and employs more than 750,000 people. Horizon Co., Ltd.’s entry into the automotive industry in the production of electric cars not only creates jobs and trains employees. but also maintains Thailand’s status as the Detroit of Asia.

For Hon Hai Precision Industry Co., Ltd. (Taiwan stock exchange code: 2317) was established in Taiwan in 1974 from a mold and has developed into the world’s first high-tech service provider. with a market share of more than 40% coveringConsumer electronic products, cloud network products, computer terminal products and other components

It is currently the largest company in Taiwan and has a total revenue of 5.99 trillion NT dollars in 2021. Including having a global business plan covering 3 continents and having production and service bases in more than 20 countries and regions. And in the past few years, it has invested in 3 emerging industries, namely “Electric vehicles Digital Health and Robotics”

In addition, it has invested in 3 new technology fields, namely “artificial intelligence semiconductor and new communication technologies”