Renowned oil and gas enterprise, PTT Plc, has estimated that its subsidiary, Arun Plus Co, is set to turn profitable within a span of three to five years, triggered by a surge in demand for electric vehicles (EVs) among the Thai populace. A vision of a futuristic, sustainable energy landscape led PTT to create Arun Plus three years ago, marking their foray into the EV sector. Ever since its inception, Arun Plus has maintained a consistent focus on EV assembly, EV rental service advancements, and battery production ventures. It aspires to pioneer the establishment of a thriving EV ecosystem in Thailand.
One of the strategic moves towards this goal is Arun Plus’s association with NV Gotion Co, a joint venture in the battery business. A substantial 51% stakeholder in this venture, with Gotion Singapore Pte owning the remaining 49%, this enterprise delineates an ambitious blueprint to develop a fully-equipped battery manufacturing plant in Rayong by 2025. With projected production levels hitting two gigawatt-hours per year, the manufacturing processes are set to kick off in the second half of next year.
Steps are underway to set up a robust and sustainable battery business in partnership with award-winning Chinese cell-to-pack battery manufacturer, Contemporary Amperex Technology Co. However, the details regarding this collaborative venture haven’t been disclosed by Ekachai Yimsakul, Managing Director of Arun Plus. He affirmed plans for a grand investment of 3.6 billion baht earmarked for the enterprise that is likely to take form in the eastern region of Thailand.
Branching into the electric car arena, Arun Plus joined forces with Hon Hai Precision Industry Co, a global electronics manufacturer headquartered in Taiwan, to establish Horizon Plus Co. This company aims to run an EV assembly plant in the Rojana Industrial Park in Ayutthaya. Arun Plus invested 60% stake in the joint venture, while Hon Hai Precision Industry paved in with the remaining 40%. The organisation plans to commence production of EVs for a range of brands under the Horizon Plus umbrella. Their initial objective is to assemble around 50,000 EVs annually from next year, setting the stage for scaling up production to 150,000 units by 2030, as reported by Bangkok Post.
As an addition to its wide-ranging services, Arun Plus also operates an EV rental service under its wholly-owned subsidiary, EVME Co. This service targets potential EV buyers who are on the fence about a full-fledged purchase, offering them a flexible rental period ranging from three days to several months. The EV fleet under EVME, approximated at about 700 vehicles in March this year, is set to witness a remarkable elevation to 2,000 units by the end of this year.
Furthermore, in the EV charging domain, Arun Plus is planning to extend its services beyond PTT petrol stations by installing more charging units to cater to the burgeoning demands of EV users.