BANGKOK -- From a state-owned enterprise to a renewable energy startup, key players are jumping into Thailand's electric vehicle battery market, driven by the government's push to make the country into a regional production hub for EVs and their components.
Global Power Synergy (GPSC), the utility arm of Thailand's state-owned oil and gas conglomerate PTT Group, will spend 2.7 billion baht ($73.6 million) through this year to develop EV batteries in the country's Eastern Economic Corridor. The project includes an EV battery plant and creation of an associated supply chain.
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