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Foxconn and Thailand's PTT aim to rule EV market in Southeast Asia

Bangkok cheers venture by energy group hoping to start production in 2023

Foxconn's platform for electric vehicles is displayed at a company event in Taipei in October 2020.   © Reuters

BANGKOK -- Thai oil and gas group PTT signed a joint venture deal with leading contract electronics producer Foxconn on Tuesday to make electric vehicles, propelling Bangkok's strategy to turn Southeast Asia's second-largest economy into the region's top manufacturer and exporter of EVs.

The state-owned PTT and the Taiwanese manufacturer look to produce EVs and related parts as early as 2023.

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