Horizon Plus recently held the stone-laying and groundbreaking ceremony for a new manufacturing facility for electric vehicles (EVs) at the Rojana Nhongyai Industrial Park, Chonburi Province, in Thailand.
Attending the ceremonial event were Professor Dr. Thosaporn Sirisumphand; Narit Therdsteerasukdi, secretary general of the Thailand Board of Investment; Piriya Khempon, special advisor of the eastern economic corridor office; Dr. Suo-Hang Chuang, representative of the Taipei Economic and Cultural Office; Auttapol Rerkpiboon; Dr. Buranin Rattanasombat; Mark Chien, GM of Foxconn D business group, and; Kay Chiu.
Horizon Plus is a joint venture between Hon Hai Technology Group (Foxconn) and PTT Group to invest and operate an EV manufacturing facility in Thailand based on the contract-design manufacturing service (CDMS) model, which aims to support the transition of the Thai automotive industry from traditional internal combustion engines (ICEs) to EVs.
Established in 1974 in Taiwan, Foxconn is the world’s largest electronics manufacturer. It has expanded its capabilities into the development of EVs, digital health, robotics, and three key technologies—new-generation communications technology, artificial intelligence, and semiconductors—which are crucial to driving its long-term growth strategy. In addition to maximizing value-creation for customers who include many of the world’s leading technology companies, Foxconn champions environmental sustainability in the manufacturing process and serves as a best-practices model for global enterprises.
“Today’s stone-laying ceremony marks another important step of collaboration between Foxconn and PTT on our journey towards electrification of the regional automotive industry. As the world moves toward a low-carbon society, the transition to greener transportation alternatives such as EVs will play a significant role in shaping future energy sustainability. It aligns with PTT’s commitment to creating national energy security for the country. This collaboration also opens up investment opportunities beyond production to include both upstream and downstream for the Thai automotive supply chain to serve EV end consumers better,” revealed Professor Dr. Thosaporn Sirisumphand, chair of PTT and Arun Plus.
Established in 1978, PTT Public Company Limited is a Thailand-based state-owned listed company engaged in energy businesses. PTT is Thailand’s most prominent business group, with a market cap of $36 billion. The company supplies, transports, and distributes natural gas vehicles (NGV), petroleum products, and lubricating oil via service stations throughout Thailand and exports to overseas markets. The company is involved in the exploration, production, refinery, marketing, and distribution of petroleum, petrochemical products, and aromatics through its subsidiaries and affiliated companies. In its drive into innovative, future-proof, and sustainable industries, PTT is committed to spearheading the development of the EV ecosystem in Thailand and moving towards a low-carbon society.
Auttapol Rerkpiboon, president and CEO of PTT, shared, “The collaboration not only focuses on the investment of the EV production but also on the research and development in Thailand. This includes knowledge transfer and training for the local workforce. The Horizon Plus stone-laying and groundbreaking ceremony emphasizes PTT Group’s commitment to the new vision: Powering life with future energy and beyond. The EV manufacturing facility will open business opportunities for our group to strengthen the local EV supply chain further and drive the electrification of the ASEAN auto industry.”
50,000 EVs in 2024; 150,000 in 2030
Dr. Buranin Rattanasombat, chief of new business and infrastructure officer of PTT, and chair of Horizon Plus, revealed, “Horizon Plus will operate based on the build-operate-localize philosophy to enhance the competitiveness of the local automotive industry and supply chain in the long run. It will invest around $1 billion for this EV facility with a target to complete construction and be ready for vehicle delivery by 2024. The initial capacity will be 50,000 EVs per year and gradually ramp up to 150,000 EVs per year by 2030 to support the growing demand of the ASEAN EV market.”
Kay Chiu, Horizon Plus CEO, said, “The business model of Horizon Plus is CDMS, which is open to any automakers whose strategy is to have their vehicle produced in Thailand both for domestic and export markets. This open and sharing manufacturing concept aligns with Foxconn’s ambition in shaping the global EV industry based on MIH open platform.”
Horizon Plus is the joint venture between Arun Plus—the EV flagship of PTT Public Company Limited (PTT), the Thai national energy conglomerate, and Foxconn, the global leader in the manufacturing of electronic products. Horizon Plus will operate the comprehensive EV manufacturing facility, including producing EV key components, and will be located in eastern Thailand on a sprawling 500,000-square-meter area.
This collaboration aims to support the transition of the Thai automotive industry from traditional ICEs to EVs. The automotive sector is crucial to the Thai economy, contributing around 6% of the country’s GDP and employing over 750,000 workers. Horizon Plus’ ambitious move to EV manufacturing will not only create jobs and re-skill the workforce but also sustain Thailand’s position as the “Detroit of Asia”. (Story and photo courtesy of Foxconn)