EVP Network, a Thai-Hong Kong joint venture, to promote clean energy with the expansion of 600 charging stations across Thailand by 2023
EV Network Co., Ltd., a distributor of electric vehicle charging equipment for electric charging stations under the EV Network brand, held a press conference to sign a joint venture agreement with EV Power, a Hong Kong-based leading manufacturer and service provider of electric vehicle charging stations with more than 10 years of experience in electric power.
The joint venture aims to expand 600 charging stations throughout Thailand by 2023. They also announced the plan to enter the CLMV countries: Cambodia, Laos, Myanmar and Vietnam with the hope to support the society making transition towards using clean energy.
Mr. Thananwaruth Limsongport, CEO of Srisomboon Group and EVP Network, said that EV Network was founded with the idea to help reduce consumers’ cost of living in an era when global crude oil price has risen sharply creating direct impact on manufacturers and consumers around the world. Creating electric vehicle industry and electric charging station is the approach that we believe it has a good prospect for rapid growth. Therefore, we have joined hands with Mr. Prem Butsri, the owner of an import and export company, Ms. Anuttra Promtaveesit, the owner of Centara Watergate Pavillion Hotel Bangkok and Shopping Center, to set up EV Network Co., Ltd. hoping to be part of changing society for the better. EV Network Co., Ltd. has entered joint venture with EV Power owned and managed by Chief Executive Officer Mr. Laurence Chan. EV Power is a major electric vehicle charging station producer and service provider which has its own platform. It is the top service provider of EV charging stations in China and Hong Kong with more than 7,000 charging stations and over 20,000 charging platforms, covering more than 30 cities across China.
“We aim to integrate diverse industry experience under our management with the expertise of EV Power's technological development to drive the joint venture company -- EVP Network towards steady growth and we are ready to be part of encouraging Thai automotive industry to turn into using clean energy in electric vehicles instead of fuel. This can help reduce the cost of living for automobile users and business operators directly. We target to expand 100 charging stations under the EV Network Station within this year and plan to expand 500 additional charging stations within next year. This enables us to provide electric charging stations at every 150 km, making it convenient for all Thai users of electric vehicles. We are confident that from the number of charging stations that we operate, we will have a market share of approximately 20% of the total number of service providers,” said Mr. Thananwarut.