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Thailand’s Horizon Plus in talks to make EVs for Chinese, European brands
TUESDAY, JANUARY 17, 2023
Horizon Plus, a joint venture between PTT subsidiary Arun Plus and Taiwan-based Hon Hai (Foxconn), has announced plans to manufacture electric vehicles (EVs) in Thailand for Chinese and European brands.
Horizon Plus’s Chonburi plant aims to open in 2024 with production capacity of 50,000 EVs per year to drive Thailand’s ambition to become an Asian hub of EV manufacturing. Capacity will rise to 150,000 EVs by 2030 to meet growing demand from Asean consumers, the company says.
On Monday, Arun Plus managing director Ekachai Yimsakul revealed Horizon Plus is currently negotiating to produce EVs for several partner brands from Europe and China.
“Deals with two partners are expected to be completed by the first quarter of this year,” he said.
China’s Hozon Auto, which makes the Neta V model, is reportedly among the EV brands planning to produce cars at the Horizon Plus plant in Rojana Nong Yai Industrial Estate, Chonburi.
Meanwhile, Horizon Plus has invested US$1 billion (36.1 billion baht) to build a full EV manufacturing cycle in Thailand, promote domestically manufactured EVs, and recruit more than 2,000 skilled workers, Ekachai said.
Developing an EV ecosystem is part of PTT’s mission to create energy sustainability in Thailand, he explained.
PTT president and CEO Auttapol Rerkpiboon said the joint venture with Foxconn will push Thailand towards becoming a low-carbon society.
“This move is also seen as an important strategy to help PTT achieve its goal of net-zero greenhouse gas emissions by 2050,” he added.