MGC Joins PTT’s ‘Arun Plus’ to Distribute New EVs from China’s Zeekr and XPeng

Millennium Group Corporation (Asia) Public Company Limited (SET: MGC) is set to launch two new EV models from Zeekr and Xpeng, EV brands from China, at the 45th Bangkok International Motor Show 2024 from March 25 to April 7, 2024, after the company acquired rights to be the sole importer and distributor of the brands in Thailand.

MGC stated that at present, the MGC-ASIA group was in the process of preparing to cooperate with EV companies from China to operate as a distributor and dealer, as well as being a distributor with outside alliances. The company planned to expand its business to cover every price segment of the vehicles, from normal to high-premium prices.

In addition, the company announced its strategy for 2024, displaying the strengths of four business groups under MGC-ASIA Ecosystem, investing in new businesses, building the new s-curve for the megatrend of EVs, and jointly investing with Arun Plus Company Limited, an affiliate of PTT Public Company Limited (SET: PTT), to establish Neo Mobility Asia Company Limited in an investment proportion of 50:50, which will launch Zeekr and Xpeng models next month.

MGC also showed confidence that the investment with Arun Plus Company Limited will help support the Thai government, as it aimed to drive the country to be the leader of EV markets in ASEAN.