Mitsubishi Motors to Begin Study of Collaboration with PTT, along with its EV Flagship Arun Plus, in Production, Sales, Export, and Related Services of Electric Vehicles

BANGKOK – May 8, 2024: Mitsubishi Motors Corporation (hereafter, Mitsubishi Motors) announced today that it, along with Mitsubishi Motors (Thailand) Company Limited (hereafter, MMTh), has agreed with PTT Public Company Limited (hereafter, PTT) and Arun Plus Company Limited (hereafter, Arun Plus), PTT's flagship of electric vehicle business, to begin talks on a partnership among the four companies. The companies will start discussing collaboration in xEV business, including local manufacturing operations in Thailand, domestic sales and export, and related services, with the aim of contributing to achieving carbon neutrality in Thailand.

PTT has been a leader in Thailand's energy industry for many years. As PTT has extensive knowledge of the energy industry and automotive market, as well as its own EV ecosystem concept, Mitsubishi Motors, which is promoting an electric vehicle strategy, believes that there are various opportunities for collaboration among these companies, including electric vehicle production and mobility service business.

Mr. Takao Kato, President and Chief Executive Officer of Mitsubishi Motors, gave the following comments on the agreement: "Thailand is one of the most important countries for Mitsubishi Motors’ overseas operations, and we have contributed to the development of the Thai economy for more than 60 years through our automotive business in production, sales, and export. Ensuring the success of this collaboration will enable us to maximize the experiences and resources the four companies have. We will make further contributions to Thailand's economic prosperity and carbon neutrality policy together with PTT."

From left to right:

Mr. Ekachai Yimsakul, Managing Director, Arun Plus Company Limited,
Mr. Cherdchai Boonchoochauy, Senior Executive Vice President, Innovation and New Ventures, PTT Public Company Limited (PTT),
Dr. Buranin Rattanasombat, Chief New Business and Infrastructure Officer, PTT Public Company Limited (PTT),
Mr. Masaki Tsugeno, Corporate Officer, Mitsubishi Motors Corporation,
and Mr. Noboru Tsuji, Chairman of the Board, Mitsubishi Motors (Thailand) Company Limited.

About Mitsubishi Motors Thailand (MMTh)

Mitsubishi Motors (Thailand) Co., Ltd., the largest plant in the MMC group and an export hub to more than 120 countries, is one of Thailand’s leading automotive manufacturers committed to produce and sell a range of vehicles that are eco-friendly, high in quality, performance, safety, comfort, technology, and customer satisfaction. In 2018, MMTH officially opened Education Academy in Pathum Thani and celebrated a total production of six million units at the beginning of 2021. MMTh’s current range of vehicles includes MITSUBISHI TRITON, MITSUBISHI PAJERO SPORT, MITSUBISHI ATTRAGE, MITSUBISHI MIRAGE, MITSUBISHI XPANDER, MITSUBISHI XPANDER CROSS and MITSUBISHI OUTLANDER PHEV. To ensure the highest quality, MMTh uses its proving ground in Si Racha, Chonburi to assess products from design and prototype stages to pre-production and commercialization. This ensures customers take delivery of vehicles that are second-to-none in all aspects of quality. Stay updated with Mitsubishi Motors Thailand: