PTT and Foxconn have signed a memorandum of understanding (MoU) to collaborate in setting up an open platform for producing electric vehicles (EV) and key components to serve the EV sector in Thailand. The platform, comprising hardware and software services, will be available to all automobile players in Thailand looking to accelerate their production and sales of EVs in country and elsewhere in the ASEAN region.

H.E. General Prayut Chan-o-cha, Prime Minister of Thailand, presided over the virtual signing ceremony of the MoU for a Development and Manufacturing EV project in Thailand. All going well, this will precede formation of a partnership supporting the production of EVs. The partnership aims to set up an end-to-end production platform that provides instant scale to the EV industry in Thailand.

Automobile players in Thailand that wish to assemble electric vehicles will be able to access the entire value chain of services offered by a newly formed joint venture being set up as part of this project. The intent is to help manufacturers not only access EV-specific services but also launch new models more quickly at a competitive cost.

The new platform will entail an ecosystem combining state-of-the-art technologies across the EV value chain, including auto parts manufacturing. It will build on Foxconn’s recently established MIH industry alliance, an open network that enables developers and manufacturers to offer a complete software and hardware platform to build electric cars.

The MIH platform has four key characteristics: