PTT, Thailand’s equivalent to Petronas, will be building EVs with Foxconn

PTT, Thailand’s equivalent to Petronas, has signed a Memorandum of Understanding (MoU) with Taiwan-based Chinese electronics contract manufacturer Foxconn to form a joint venture to manufacture electric vehicles (EVs) in Thailand.

The MoU won’t see PTT selling its own EVs, but instead will see the oil and gas company expanding into the contract manufacturing business for EVs, leveraging on Foxconn’s open-source MIH Open EV Platform.

In the same way Foxconn is a contract manufacturer for Apple, PTT will be Foxconn’s representative in Thailand, opening up Foxconn’s MIH software and hardware platform to all automobile companies in Thailand looking for a fast-tracked entry point into the EV business.

PTT will contribute its knowledge of the Thailand market, distribution network, and customer reach while Foxconn will contribute its expertise in manufacturing.

The MoU was signed yesterday, in an online ceremony witnessed by General Prayut Chan-o-cha, Prime Minister of Thailand.

A joint press statement by the two companies said, “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 JV 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 collaboration will bring together PTT’s innovation & technology and proven track record in energy business, and its network of partners, subsidiaries and existing ventures, into the EV landscape and Foxconn’s proven capabilities in smart manufacturing and its experience in reducing product-development cycles and overall speed in bringing products to market. Through this collaboration, PTT and Foxconn aspire to shape the future of mobility in Thailand and propel Thailand towards a sustainable, emissions-free future.

“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.”

Foxconn’s MIH platform, launched in 2020, can be scaled to accommodate vehicles of various sizes, from compact to full-size. Since it’s a ‘skateboard’ format EV platform, a variety of ride height and body styles can be accommodated, from sedans to SUVs.

The company’s demonstration model is a C-segment size SUV, with a 4,410 mm length, 1,785 mm width and 1,605 mm height – basically a Toyota Corolla Cross-size SUV.

It’s powered by a 50 kWh (up to 116 kWh is available) ternary lithium battery, making 177 PS and 250 Nm (about the same level as a Honda Civic 1.5 TC-P), driving the front wheels with a single-speed transmission, with a range of 360 km, and a top speed of 150 km/h, with Level 2 semi-autonomous driving capability.

The chassis features torsion beam rear suspension, with MacPherson struts in front.