Thai coal leader Banpu boosts EV shift with $67m ADB loan

Funds to target electric tuk-tuks and charging stations as public transport goes green

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Banpu will use the ADB loan for outlays including the purchase of 1,500 electric tuk-tuk three-wheeled taxis. (Banpu)

KOSUKE INOUE, Nikkei staff writer

BANGKOK -- Banpu, Thailand's biggest coal miner, has signed a 2.4 billion baht ($67 million) loan agreement with the Asian Development Bank as it urgently seeks to shift from reliance on coal and expand electric vehicle operations.

"We would like to thank you ADB for supporting our commitment. Our shared determination to build sustainable energy is aligned, and this collaboration will expedite our efforts and create a better living for all," Banpu CEO Somruedee Chaimongkol said in a statement Monday.

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