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Energy Absolute expects greater earnings from electric vehicle business this year

Energy Absolute (EA) expects the proportion of its revenue to change this year, especially since its electric vehicle-related business has been growing.

EA director Amorn Sapthaweekul said the power plant business will drop from 60 per cent to 50 per cent, and biodiesel business from 40-45 per cent to 30-35 per cent. The remaining 10 to 20 per cent of the business will be contributed to by the EV business, he said, adding that EA’s total revenue this year will grow by around 20 per cent thanks to the growth of EV.

Amorn also said the construction of EA’s battery plants will be completed in the first quarter, which will contribute to growth, especially since the batteries can support both electric cars and boats that EA produces.

He also said the company has received orders for some 400 to 500 electric public vehicles and products will be ready for delivery at the end of the first quarter.

Its electric boats, meanwhile, will be delivered in March to state agencies to be used for public transport between Bangkok and neighbouring provinces.

He added that EA will build more charging stations nationwide to increase the number of stations from 400 to 1,000 as originally targeted.

Published : January 22, 2021