MGC Announces a Joint Investment with PTT’s Arun Plus to Distribute EVs

MGC – Asia Greentech Co.,Ltd. the subsidiary company of Millenium Group Corporation (Asia) Plc. (SET: MGC) had entered into joint investment with Arun Plus Co.,Ltd. by establishing Neo Mobility Asia Co.,Ltd. having the shareholding proportion namely : MGC – Asia Greentech Co.,Ltd holding 49.999 % of registered capital and Arun Plus Co.,Ltd. holding 50.001% of registered capital. Therefore, Neo Mobility Asia Co.,Ltd. deems as the associate company of the company.

Arun Plus Co., Ltd. is an affiliate of PTT Public Company Limited (SET: PTT) that focuses on EV business.

Thereafter, Neo Mobility Asia Co.,Ltd. (Neo Mobility Asia) has established Ze Mobility Plus Co,Ltd. (Ze Mobility Plus) and X Mobility (Thailand) Co.,Ltd. (X Mobility (Thailand)) having the registered capital of Baht 10 million per company which Neo Mobility Asia Company Limited (Neo Mobility Asia) (Arun Plus’s subsidiary) holds 100%.

The objective of the establishment of Ze Mobility Plus is to operate as a ZEEKR dealer and X Mobility (Thailand) is to operate as a XPENG distributor, which shall enhance the competitive efficiency of the company and aligns with its vision to be a leading automotive retailer group driven by mobility and digitalization. The establishment of Ze Mobility Plus and X Mobility (Thailand) was completed on 6 March 2024.