Banpu NEXT enhances e-Mobility business, establishing JV for commercial EV fleet services in Thailand

Thailand's rapidly growing EV market, driven by government support and increasing consumer demand, presents a significant opportunity. Capitalizing on this momentum, the joint venture will offer a comprehensive suite of EV fleet solutions. This end-to-end approach covers the entire lifecycle, from initial consultation and vehicle procurement to ongoing operation, maintenance, and eventual replacement, including charging infrastructure installation, integrated management systems, route charging support, and battery reuse/recycling. This comprehensive service ensures seamless EV integration for businesses and supports the development of a circular economy model for secondary use of EV vehicles.

Mr. Smittipon Srethapramote, Chief Executive Officer of Banpu NEXT, said: "This joint venture with Marubeni and Fuyo is a key milestone in Banpu NEXT's commitment to accelerating Thailand's e-mobility transition. Our new paradigm for commercial fleet services, which include leasing and other related options, will empower businesses to embrace electric vehicles, contributing to a more sustainable and prosperous future for Thailand."

This strategic partnership combines the strengths of each partner to offer a unique and comprehensive solution for commercial EV fleets in Thailand. Banpu NEXT, with operations in renewable energy, energy trading platforms, and utility-scale battery energy storage systems (BESS), which are the core infrastructure of e-mobility services, provides a strong foundation for the JV while also contributing to the country's sustainable development goals.

Marubeni operates mobility-related businesses, including automobile sales and after-sales services, globally. Additionally, it operates an EV fleet management business in Japan. In Thailand, Marubeni develops a wide range of businesses, including car maintenance and electric power businesses. In this project, Marubeni will leverage its extensive group network as a diversified trading conglomerate to facilitate business development and management.

Fuyo Lease operates a comprehensive leasing business, encompassing auto leasing. It also provides one-stop EV services, including EV introduction, management, and peripheral equipment like chargers. Additionally, Fuyo Lease operates a logistics-related equipment leasing business in Japan. The company will leverage its expertise in these areas to promote the project's EV auto leasing business and fleet management.

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