Thailand Appoints State-owned Co Lead the Charge in Electric Vehicle Development
PTT Plc, a state-owned oil and gas company, on Monday signed contracts with six major automakers for cooperation in developing electric cars, opening the first in a series of electric vehicle charging stations associated with the project.
PTT will be responsible for building a network of 20 charging stations under the accord, while the automakers pledged to develop electric vehicles (EV) and boost awareness and confidence in the Thai market, according to a joint statement.
The six firms are the Thai units of BMW Group, Mercedes Benz, Mitsubishi Motors Corp, Nissan Motor, Porsche and Volvo.
PTT, which began researching EV technology in 2012, already operates four EV charging stations. It aimed to open two more later this year and reach 20 by 2017, chief executive Tevin Vongvanich said.
Thailand has ambitious plans to boost the number of electric cars to 1.2 million by 2036, Energy Minister Anantaporn Karnchanarat said, compared with just under 68,000 currently in the country.
To help spur the industry, the government has already offered tax incentives for makers of EV auto parts, including batteries and motors.