Foxconn to Partner With PTT on Electric-Vehicle Production in Thailand
May 31 2021 - 7:31AM
Dow Jones News
By Clarence Leong
Foxconn Technology Group and Thailand's state-owned oil company
PTT PCL will set up an open platform for electric-vehicles
production in the country, with an aim of accelerating the
industry's growth.
The companies have signed a memorandum of understanding to enter
into a partnership, they said in a joint statement on Monday. The
platform will comprise of hardware and software services, and it
will be open to all auto makers in Thailand who are looking to ramp
up their EV production and sales, they said.
"The intent is to help manufacturers not only access EV-specific
services but also launch new models more quickly at a competitive
cost," the statement said.
Foxconn, formally known as Hon Hai Precision Industry Co. and
the world's largest contract electronics maker, has been expanding
into the auto industry. Last month, it formed a collaboration with
Jeep and Chrysler maker Stellantis NV to speed up the development
of in-car software. Its chairman in March raised the possibility of
manufacturing EVs in the U.S. and hinted at additional potential
partnerships with American companies.
Write to Clarence Leong at clarence.leong@wsj.com
(END) Dow Jones Newswires
May 31, 2021 07:31 ET (11:31 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Stellantis NV (BIT:STLA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Stellantis NV (BIT:STLA)
Historical Stock Chart
From Apr 2023 to Apr 2024