Horizon Plus, a joint venture between Arun Plus – a subsidiary of Thai state run energy company PTT – and Taiwan’s Hon Hai Technology Group, announced this week it planned to begin production of battery electric vehicles (BEVs) in Thailand in 2024.
The company said it would build a new plant in Chonburi province with an initial production capacity of 50,000 BEVs per year, to be expanded to 150,000 units/year by 2030. The company aimed to help make Thailand a key regional production hub for BEVs.
The company aimed to invest US$1bn in a full BEV manufacturing facility in Chonburi’s Rojana Nong Yai Industrial Estate which was expected to employ 2,000 people.
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By GlobalDataHon Hai, also known as Apple’s main manufacturing subcontractor Foxconn, had developed an EV platform complete with battery cells and drivetrain and had established several BEV deals around the world in the last few years.
Arun Plus managing director Ekachai Yimsakul said Horizon Plus was in talks to produce BEVs for several Chinese and European brands, adding “deals with two partners are expected to be completed by the first quarter of this year”.
Hozon Auto is one of the Chinese brands in discussions to source BEVs from Horizon Plus’ Thai plant.
PTT president and CEO Auttapol Rerkpiboon said: “The joint venture with Foxconn will help push Thailand towards becoming a low-carbon society.”
