On February 7, according to the IT home market news, Thailand's National Petroleum Group (PTT) revealed yesterday that the Thai electric vehicle factory, a joint venture with Hon Hai Group, will be mass-produced as soon as the first quarter of 2024, and the two sides will finalize the final investment details in the first half of this year.
According to industry sources, the total amount of the first investment between PTT and Hon Hai Group is planned to be 1 billion US dollars (about 6.36 billion yuan). PetroNas expects an initial annual production of about 50,000 units, which will be gradually expanded to reach an annual production capacity of 150,000 units.
In September last year, Hon Hai Group and Petro Thailand signed an agreement to establish a joint venture through an online ceremony, the first phase of which is planned to reach the annual production capacity of 50,000 vehicles in 2 to 3 years, and expand to 150,000 vehicles per year in the future.
In addition, Hon Hai Group has also made progress in laying out electric vehicle production lines in the United States. Autoevolution reported that the Endurance electric pickup truck model cooperated by Lordstown Motors, a supplier of commercial electric light trucks in the United States, and Hon Hai Group, will begin delivery in the second half of this year.
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