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The main concerns with electric vehicle batteries are their short driving range, high cost, poor battery quality, and sporadic charging infrastructure. Strong and consistent growth is being seen in the worldwide EV battery industry.
Even while EV charging infrastructure has seen substantial progress, there are currently less charging stations than there are petrol stations in many parts of the world, which is one of the biggest obstacles to EV adoption.
In order to meet anticipated demand, promote a competitive market, maintain energy affordability, and maintain the stability of the electric grid, OEMs require an industry-standard EV battery.
Large battery packs are another component of EVs, and these batteries have a tendency to lose some of their capacity after a number of cycles of charging and discharging. This makes replacing EV batteries quite expensive.
Expanding charging options and finding solutions for the millions of homes without garages – who might not have a designated location to charge their batteries – are crucial for widespread EV adoption.
In order to work together to establish an open platform for manufacturing electric vehicles and essential components to support the EV market in Thailand, Foxconn and PTT have signed a Memorandum of Understanding.
All Thai automakers wanting to increase the production and sales of EVs both domestically and abroad will have access to the platform, which consists of hardware and software services.
The newly formed JV being established as part of this initiative will provide access to the whole value chain of services for Thai automakers that want to construct electric vehicles. The goal is to assist manufacturers in accessing EV-specific services as well as in launching new models more rapidly and affordably.
The new platform will include an ecosystem that combines technology from various points along the EV value chain, including the production of auto parts.
It will expand on the recently created MIH industry alliance by Foxconn, an open network that enables manufacturers and developers to provide a full software and hardware platform for the production of electric vehicles.
The Thailand EV Telematics 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.
