{"id":3189,"date":"2021-06-04T15:00:37","date_gmt":"2021-06-04T07:00:37","guid":{"rendered":"https:\/\/www.fcci.org.tw\/?p=3189"},"modified":"2021-06-04T11:31:09","modified_gmt":"2021-06-04T03:31:09","slug":"ptt-foxconn-to-make-electric-vehicles-in-thailand","status":"publish","type":"post","link":"https:\/\/www.fcci.org.tw\/?p=3189&lang=en","title":{"rendered":"PTT, Foxconn to make electric vehicles in Thailand"},"content":{"rendered":"\n<p>Taiwan&#8217;s Foxconn on Monday announced a partnership with state-run energy group PTT Plc to make electric cars in Thailand, adding to a string of such deals by the iPhone assembler as it makes forays into the car market.<\/p>\n\n\n\n<p>Foxconn, Apple&#8217;s main iPhone maker, has expanded its activities in electric vehicles (EVs) over the past year or so, announcing deals with Chinese electric-car maker Byton and automakers Zhejiang Geely Holding Group as well as Italian automobile company Stellantis.<\/p>\n\n\n\n<p>Foxconn and PTT have signed a memorandum of understanding to&nbsp;<a href=\"https:\/\/www.bangkokpost.com\/business\/2122923\/ptt-preparing-to-debut-in-ev-assembly\" target=\"_blank\" rel=\"noreferrer noopener\">cooperate in making EVs and their components<\/a>&nbsp;for the Thai market, the two companies said in a statement, which also said that the virtual signing ceremony was presided over by Prime Minister Prayut Chan-o-cha.<\/p>\n\n\n\n<p>Under the partnership, an &#8220;open platform&#8221; that provides both hardware and software services will be available to automakers in the country, the statement said, without giving details such as size of the investment and production plans.<\/p>\n\n\n\n<p>Foxconn&#8217;s EV foray could become a threat to established automakers, in which non-traditional players could use contract assemblers such as Foxconn as a shortcut to competing in the vehicle market.<\/p>\n\n\n\n<p>The platform in Thailand will build on the Foxconn-led industry alliance, MIH, a network that the company said would offer manufacturers a cost-effective solution to make EVs.<\/p>\n\n\n\n<p>&#8220;This cooperation with PTT and the Thai government to realise the vision of sustainable development of the EV industry, demonstrates that the MIH ecosystem is growing,&#8221; Foxconn chairman Liu Young-way said.<\/p>\n\n\n\n<p>Taiwan-based Foxconn aims to provide components or services to 10% of the world&#8217;s EVs by 2025 to 2027, Liu said in October, vowing to lower manufacturing and other costs for carmaking with its assembling know-how as the world&#8217;s largest contract electronics manufacturer.<\/p>\n\n\n\n<p>In its largest vehicle-assembly deal to date, Foxconn this month said it will make at least 150,000 vehicles a year starting in 2023 in a partnership with US electric car maker Fisker Inc.\u00a0<\/p>\n\n\n\n<p>Source: <a href=\"https:\/\/www.bangkokpost.com\/business\/2124531\/ptt-foxconn-to-make-electric-vehicles-in-thailand\">PTT, Foxconn to make electric vehicles in Thailand<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Taiwan&#8217;s Foxconn on Monday announced a partnershi [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,5],"tags":[400,385],"class_list":["post-3189","post","type-post","status-publish","format-standard","hentry","category-industry-watch","category-news-articles","tag-electric-vehicle","tag-foxconn-en"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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