PTT gives go-ahead to new player in EV battery assembly industry
National oil and gas conglomerate PTT has given the greenlight to its 100% owned subsidiary Arun Plus Ltd to establish a new company called A C Energy Solution that will operate cell-to-pack (CTP) battery assembly to support the expansion of the electric vehicle market in Thailand.
In a notification to the Stock Exchange of Thailand on Wednesday, PTT president and CEO Auttapol Rerkpiboon reported that on November 13, the board of directors of Arun Plus approved the move to establish A C Energy Solution with a registered capital not exceeding 1.851 billion baht in which Arun Plus would hold 100% of the shares.
He said the establishment of A C Energy Solution, which was completed on January 3, aligned with PTT Group's investment strategy in future energy. The company is expected to start operations this year.
Auttapol added that Arun Plus planned to enter into a joint venture with a partner who has experience and expertise in the electric vehicle battery industry to enhance A C Energy Solution’s competitive advantage and capabilities in the future.
