In June this year, the Board of Investment Promotion of Thailand (BOI) announced that it approved the establishment of a joint venture between Hon Hai and the State Petroleum Corporation of Thailand (PTT) to establish an electric vehicle company Horizon Plus worth 36.1 billion baht (about 1.04 billion U.S. dollars). The vehicle layout will be officially launched, and the local OEM electric vehicle business will be implemented.
Hon Hai's electric vehicle layout in Thailand has made new progress. Dr. Buranin Rattanasombat, chairman of the board of Horizon Plus, presided over the signing ceremony of the land sale agreement today (12th), and will build a new project in Thailand's Eastern Economic Corridor (EEC). Electric vehicle manufacturing plant.
It is reported that the new factory covers an area of 500,000 square meters. It is expected to complete the construction of the factory and start production in 2024 to supply electric vehicles to the market, establish an electric vehicle ecosystem in Thailand, and develop into related industries in the future.
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