Largest Thai Oil Retailer to Double EV Chargers as Fuel Crunch Bites

PTT Oil & Retail Business Pcl, Thailand’s largest oil retailer, plans to more than double its electric vehicle charging network by 2030, betting that a deepening global fuel crunch will accelerate the shift toward electrification.

As part of its five-year strategy, PTT OR will invest 58 billion baht ($1.76 billion) for expansion. About 65% of the budget will be allocated to mobility infrastructure including fuel stations and EV chargers, Chief Executive Peekthong Thongyai told reporters Tuesday.