PTT Group – Foxconn Moves Forward with the EV Ecosystem, Underlining Thailand the EV Hub of ASEAN

          BANGKOK, June 28, 2022, PTT Group board of directors, including Prof. Dr. Thosaporn Sirisumphand Chairman of PTT Public Company Limited (PTT) and ARUN PLUS Co., Ltd. (ARUN PLUS), Mr. Danucha Pichayanan, Secretary–General, Office of the National Economic and Social Development Council, M.L. Chayotid Kridakon, Thai Trade Representative and Advisor to Prime Minister, and Mr. Auttapol Rerkpiboon, President and Chief Executive Officer of PTT, together with the top executives from Foxconn Technology Group, Mr. Young Liu, Chairman and CEO of Foxconn paid a courtesy visit to H.E. General Prayut Chan–o–cha, Prime Minister of Thailand, and Mr. Supattanapong Punmeechaow, the Deputy Prime Minister and Minister of Energy of Thailand. The objectives of the visit were to express the strong determination and solid collaboration of Foxconn Group and PTT Group to strengthen Thailand’s EV industry and investment opportunities. Also, some key discussion topics including relevant operations, to monitor the progress of cooperation between PTT Group and Foxconn joint venture, and to create comprehensive EV ecosystem in Thailand were highlighted.

          PTT CEO, Mr. Rerkpiboon, revealed that the highlights of this visit had covered the construction of the EV production plant, the newly established HORIZON PLUS Co., Ltd. (HORIZON PLUS), jointly owned by ARUN PLUS, and Foxconn, to serve as an EV OEM for car companies, both in Thailand and in ASEAN region. With the beginning of construction work within the third quarter of 2022, the factory is scheduled to be completed by early 2024.

          In this occasion both parties have also exchanged views on further business opportunities and investment in Thailand’s other targeted industries in which Foxconn have expertise. In particular, the investments in the smart electronics, semiconductors, as well as the manufacturing of various components which are the upstream industry of electric vehicle production. Having responded to the government policy and its direction to promote electric vehicles in Thailand, this joint effort also drives the country to further achieve a low carbon society target. In addition, this partnership will help prepare and develop the skilled labors for the future–oriented industries especially in electronic component while providing advanced technology solutions to cover all levels, which will also support the direction of the industry towards sustainable innovation of the future.

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About Arun Plus Co., Ltd. (ARUN PLUS)

A wholly–owned subsidiary of PTT, with the registered capital of Baht 5,000 million. The objective of the company establishment is to operate in the EV value chain business in accordance with PTT’s New Vision “Powering Life with Future Energy and Beyond” to create an EV business ecosystem for the widespread use of EV in Thailand.

About Hon Hai Technology Group. (Foxconn)

Established in Taiwan in 1974, Hon Hai Technology Group (“Foxconn“) (TWSE:2317) is the world’s largest electronics manufacturer. Hon Hai is also the leading technology solution provider, and it continuously leverages its expertise in software and hardware to integrate its unique manufacturing systems with emerging technologies. To learn more, visit www.honhai.com

About Horizon Plus Co., Ltd. (HORIZON PLUS)

A joint venture company between ARUN PLUS Co., Ltd. and Lin Yin International Investment Co., Ltd. operates an electric vehicle manufacturing business in Thailand with fully integrated services including production system, supply chain management, and related EV services, to leverage a modern electric vehicle technology industry