{"id":498103,"date":"2022-06-13T15:54:11","date_gmt":"2022-06-13T10:24:11","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=498103"},"modified":"2022-06-13T15:54:11","modified_gmt":"2022-06-13T10:24:11","slug":"thailand-approves-1-billion-foxconn-ptt-ev-battery-joint-venture","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/thailand-approves-1-billion-foxconn-ptt-ev-battery-joint-venture\/","title":{"rendered":"Thailand approves $1 billion Foxconn-PTT EV battery joint venture"},"content":{"rendered":"<p>Thailand&#8217;s investment agency on Monday approved a joint venture worth 36.1 billion baht ($1.04 billion) between Taiwan&#8217;s Foxconn and Thailand&#8217;s PTT to produce batteries for electric vehicles.<\/p>\n<p>The Horizon Plus Co project one of several investment applications worth a total of 209.5 billion baht in manufacturing and infrastructure that were approved on Monday, the Board of Investment (BOI) said in a statement.<\/p>\n<p>&#8220;The joint venture project will support investment in the EV industry and build up on the policy to become Southeast Asia&#8217;s EV manufacturing hub,&#8221; BOI chief Duangjai Asawachintachit said.<\/p>\n<p>The approved projects also included a 162.3 billion baht investment by CP Group&#8217;s Asia Era One Co in a high-speed rail project connecting the three airports located in Bangkok and the Eastern Economic Corridor.<\/p>\n<p>The BOI also approved enhanced benefits for investments in EV battery production for both existing and new projects, including a 90 per cent reduction of import duty on raw and essential materials for five years in case the output is sold domestically.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thailand&#8217;s investment agency on Monday approved a joint venture worth 36.1 billion baht ($1.04 billion) between Taiwan&#8217;s Foxconn and Thailand&#8217;s PTT to produce batteries for electric vehicles. The Horizon Plus Co project one of several investment applications worth a total of 209.5 billion baht in manufacturing and infrastructure that were approved on Monday, the Board of Investment (BOI) said in a statement. &#8220;The joint venture project will support investment in the EV industry and build up on the policy to become Southeast Asia&#8217;s EV manufacturing hub,&#8221; BOI chief Duangjai Asawachintachit said. The approved projects also included a 162.3 billion baht [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-498103","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/498103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=498103"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/498103\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=498103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=498103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=498103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}