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Foxconn partners with PTT to produce EVs in Thailand

Foxconn partners with PTT to produce EVs in Thailand
Photo courtesy of Foxconn

PTT announced a partnership with Taiwan’s Hon Hai Precision Industry Co., Ltd., which is trading as Foxconn Technology Group, to establish an open platform for the electric vehicle (EV) industry in Thailand to produce EVs and provide key EV components.

Foxconn, Apple’s main iPhone maker, has expanded its activities in electric vehicles 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.

This cooperation combines PTT’s market knowledge in Thailand, distribution network, extensive customer coverage, and Hon Hai’s highly recognized global smart manufacturing capabilities, as well as visionary leadership in the field of electric vehicle technology solutions. 

The Prime Minister of Thailand Prayut Chan-o-cha participated in the online signing ceremony between Thailand’s largest listed group PTT and the world’s largest technology manufacturing service provider Hon Hai through video. Both parties aimed at developing and manufacturing electric vehicles in Thailand in the future. The project signed a Memorandum of Understanding (Memorandum of Understanding) to establish a partnership.

This partnership aims to establish an end-to-end platform to provide instant services of a certain scale for the local electric vehicle industry in Thailand, and lead Thailand into a new era of innovative and fast-growing electric vehicles. The signing ceremony was attended by many government officials and corporate executives to witness this important development milestone. Participants included Deputy Prime Minister and Minister of Energy of Thailand, Supattanapong Punmeechaow, Secretary General of the National Economic and Social Development Commission, Danucha Pichayanan, and Thailand Investment Committee Secretary-General Duangjai Asawachintachit and PTT Chairperson Professor Thosaporn Sirisumphand.

In the future, if Thai automakers want to invest in the field of electric vehicle production and assembly, the newly established joint venture will be able to provide a complete industrial chain service. Manufacturers can not only get services related to electric vehicles, but can also quickly launch new models at a competitive cost. This cooperation will cover PTT’s know-how, technology, performance, and related partners and networks in the energy industry. Hon Hai will provide recognized product development capabilities and speed in the field of smart manufacturing, including innovations in providing software and hardware integration solutions. Car-making services quickly shorten the product development and production cycle and the speed of market launch. Through this cooperation, PTT and Hon Hai will work together to transform Thailand’s vehicle industry and support Thailand’s vision for a sustainable and emission-free future.

Auttapol Rerkpiboon, president and CEO of PTT, said this cooperation is an important milestone for PTT. In the face of the future energy era, especially the changes in the transportation and mobile industries, it will accelerate PTT’s grasp of the sustainable growth of the EV value chain. The partnership with Hon Hai combined with the professional capabilities of the two companies will help the automotive industry not only meet production quality goals, but also meet global sustainability standards, and will help Thailand become an electric vehicle manufacturing center in Asia. At the same time, this is also in response to the Thai government’s policy to expand the production of electric vehicles to reduce emissions and provide an important opportunity for Thailand’s transportation system to allow Thailand to develop more rapidly in the direction of sustainable renewable energy.

The new platform will build an ecosystem that combines the latest technologies in the electric vehicle industry chain, including vehicle parts manufacturing, battery products and charging infrastructure. This system will be built on the basis of the MIH Alliance proposed by Hon Hai. As an open network, developers and manufacturers can have a complete software and hardware platform to build electric vehicles.

Liu Yangwei, chairman of Hon Hai Technology Group, said that as an innovation leader in the global technology industry, the proposed MIH open platform and Hon Hai’s unique business model will meet the needs of the future electric vehicle market. “This time, we can work together with PTT and the Thai government to realize the vision of sustainable development of the electric vehicle industry, which proves that the entire MIH ecosystem is growing. This mode of operation has also been affirmed by all walks of life. PTT has already invested in electric vehicle charging infrastructure and batteries. In this regard, Hon Hai can also contribute our professional and technical capabilities to gradually build a complete and solid electric vehicle industry in Thailand. Through the open model and local industrial advantages, we believe that Thailand can become a leader in the global electric vehicle movement, and let the world see that Eastern Detroit can continue to shine in the field of new electric vehicles.” 

As a state-owned enterprise, PTT supports the government’s future policy of environmental protection and no emissions, and participates in promoting the vision of sustainable transportation solutions, Rerkpiboon said. The joint venture with Hon Hai can be regarded as part of PTT’s commitment to these policies, he said.