A memorandum of understanding (MoU) has been signed in Thailand between PTT, the largest publicly listed conglomerate in Thailand, and Hon Hai Technology Group, otherwise known as Foxconn, a global technology solution provider.

The objective of the MoU is to support the production of electric vehicles, with the main goal of setting up an end-to-end production platform to enable the upscaling of the electric vehicle manufacturing industry in Thailand. As part of the project, automotive manufacturers in Thailand that aim to assemble and produce electric vehicles will have access to the entire value chain of services offered by the partnership. The project seeks to help manufacturers access EV-specific services and bring vehicles to market faster at a competitive price.

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