Thailand’s state-owned oil company PTT Oil and Retail Business said it plans to build the largest electric vehicle (EV) charging network by 2030, with 7,000 outlets up from just 139 currently, according to local reports.
This is part of the company’s focus on expanding into alternative energy businesses, including electric vehicles and non-oil fuels. PTT currently has a network of 2,500 service stations located primarily in Thailand, which will underpin its expansion into electric vehicle charging.
The company also has a large coffee franchise business under its Cafe Amazon brand, which has 4,120 coffeehouses, including those located in its gas stations, and interests in other fast-food franchises.
Earlier this month, PTT announced its Horizon Plus joint venture with Taiwan’s Hon Hai Technology Group, which is set to begin production of battery electric vehicles (BEVs) at a plant in Chonburi province by 2024.
The Thai government has set a target for EVs to account for 50% of locally manufactured vehicles by 2030 as it aims to establish a regional EV manufacturing hub in the country.
