BANGKOK -- Thai oil and gas conglomerate PTT Group says it is looking to lower its stake in a $1 billion electric vehicle joint venture with Taiwan's Foxconn, citing fierce competition from Chinese EV makers weighing on the domestic market.
Electric vehicles
Thailand's PTT looks to cut its stake in EV venture with Foxconn
Thai oil giant says Chinese competition has forced it to rethink project
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Taiwan's Foxconn says it remains committed to its global electric vehicle ambitions even as it reins in some of its targets for the sector. © Reuters
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