Thailand's PTT triples 2023 investments to $2.6bn ahead of EV rollout

Energy group's Horizon Plus unit aims to produce first vehicles next year

20230622N ptt logo

Thai state-owned energy group PTT is branching out into electric vehicles. © Reuters

KOSUKE INOUE, Nikkei staff writer

BANGKOK -- Thai state-owned oil and gas group PTT will roughly triple its investments this year from initial plans to 93.5 billion baht ($2.6 billion) as it prepares to begin production of electric vehicles.

PTT had initially planned to invest 33.3 billion baht in 2023.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.