Hozon Auto, a Chinese new energy vehicle (NEV) company, signed a strategic cooperation framework agreement on Wednesday with PTT Public Company Limited (PTT), formally establishing a cooperative relationship between the companies.
Both parties stated that in the future, PTT will work with Hozon Auto to expand its business in the Thai market, and will strive to build a smart car ecosystem integrating value-added services, infrastructure and user experience, so as to provide high-quality smart electric car products made in China for consumers in Thailand and the Association of Southeast Asian Nations (ASEAN).
Zhang Yong, Cofounder and CEO of Hozon Auto, said that the right-hand drive (RHD) version of its Hozon NETA V model, which has been created to meet different demands in overseas markets, will take the lead in the firm’s initial expansion into Thailand. At the same time, Hozon Auto will take Thailand as its base for entering the broader ASEAN NEV market.
As the largest petrochemical refiner and seller in Thailand, PTT has a vision of “powering life with future energy and beyond,” and undertakes Thailand’s national strategic plan for green development and zero emissions. The partnership maximizes the advantages of local resources with Hozon Auto’s products and services, enabling a pure electric vehicle ecosystem to flourish in Thailand.
Mr. Auttapol Rerkpiboon, President and CEO of PTT, said: “The cooperation between PTT and Hozon Auto will help drive the emergence of more cost-effective and competitive electric vehicle products in the Thai market, especially helping Thailand to accelerate its vision of developing a pure electric vehicle industry whereby ‘30% of the vehicles produced in Thailand must meet zero emission standards every year by 2030’.”
In September this year, at the 18th China-ASEAN Expo, Hozon Auto released the RHD version of the Hozon NETA V, officially announced its foray into the ASEAN NEV market and started a new journey of globalization. According to the company, the Hozon NETA V RHD model is the only pure electric RHD model to be mass-produced among the NEV startups, aiming at meeting the personalized car needs for users in ASEAN countries.