According to Nikkei Asia, PTT is among businesses worth following in 2024 as the Thai oil and gas leader is diversifying to EV infrastructure.
PTT, the Thai state-owned oil and gas company, has been ranked as one of the top Asian companies to watch in 2024 by Nikkei Asia, a leading business publication in the region.
PTT has revealed its ambitious plans to invest in renewable energy, hydrogen and electric vehicles in 20024. PTT aims to become a net-zero carbon company by 2050, and has set a target of increasing its renewable energy portfolio to 30% by 2030.
PTT, a state-owned oil and gas conglomerate, is adjusting to the Thai government’s emphasis on electric vehicles and has established PTT Oil Retail (OR) to oversee both oil retailing and non-oil businesses at its extensive network of gas stations nationwide.
PTT, a major oil and gas conglomerate in Thailand, has started manufacturing lithium-ion batteries to support its electric vehicle brand Neta and to enter the expanding electric vehicle market.
PTT’s foray into EV battery manufacturing aligns with the global shift towards electrification of transportation. The company is focused on taking advantage of the growing EV market in Thailand and establishing itself as a significant player in the regional EV supply chain.
PTT is one of the largest energy companies in Southeast Asia, with operations in exploration, production, refining, petrochemicals, power generation, and gas distribution. PTT has also been investing heavily in renewable energy sources, such as solar, wind, and biofuels, as well as in digital transformation and innovation.