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The most widespread and honourable vocation is farming, and it must be modernised in order to satisfy the demands of the expanding population.
The development of lithium-ion eTractor batteries is a step toward more environmentally friendly farming methods that reduce the needless strain on the environment. It plays a crucial role in our daily life.
A joint venture worth 36.1 billion baht ($1.04 billion) between Foxconn of Taiwan and PTT of Thailand was approved by Thailand’s investment agency to develop batteries for electric vehicles.
The Board of Investment (BOI) announced in a statement that a number of investment proposals totaling 209.5 billion baht in manufacturing and infrastructure were accepted, including the Horizon Plus Co project.
The joint venture project will promote investment in the electric vehicle (EV) sector and further the strategy to establish Southeast Asia as an EV manufacturing hub. On addition, CP Group’s Asia Era One Co.
invested 162.3 billion baht in a high-speed rail project that would link the Eastern Economic Corridor and Bangkok’s three airports.
The BOI also granted additional incentives for investments in the manufacture of EV batteries for both new and existing projects, including a 90 percent reduction in import duties on raw and necessary materials for five years in the event that the product is sold locally.
The Thailand Electric Tractor Battery Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
