PTT forms joint venture with Foxconn to manufacture electric vehicles

June 08, 2021
Last Updated:
June 08, 2021
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Southeast Asia has been one of the slowest regions to adopt electrified transportation due to few available models of electric vehicles, limited infrastructure, and a more price-sensitive market compared to other regions. Activity in the region is now picking up, and the announcement that Thailand's largest corporate entity would partner with Foxconn to leverage its electric vehicle platform will no doubt accelerate electrification of the region. Clients should watch for further announcements from the two companies on charging infrastructure and timelines for operating in the region, as none were provided, but they are important for understanding the pace of adoption in the region.

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