Millennium Group Corporation (Asia) Public Company Limited (MGC-ASIA) (SET: MGC) announced today a strategic move to acquire the remaining shares of Neo Mobility Asia Co., Ltd. from Arun Plus Mobility Holding Co., Ltd. (AMH), a subsidiary of PTT Public Company Limited. This transaction grants MGC-ASIA 100% ownership of Neo Mobility Asia, a key step in accelerating the company’s expansion into the next-generation mobility business.
Dr. Sunhavut Thamchuanviriya, Group CEO of MGC-ASIA, stated that this acquisition is a significant milestone in the company’s commitment to becoming Thailand’s No.1 provider of integrated Lifestyle Mobility Ecosystem.
MGC-ASIA recently informed the Stock Exchange of Thailand that its subsidiary MGC-ASIA Greentech Co., Ltd has acquired the remaining shares of Neo Mobility Asia Co., Ltd, which is a joint venture between MGC-ASIA Greentech and Arun Plus Mobility Holding Co., Ltd., a subsidiary of PTT Public Company Limited. This transaction increases MGC-ASIA Greentech’s shareholdings in Neo Mobility Asia from 49.99% to 100%, enabling the company to enhance its strength and fully unlock the potential of the EV business.
Apart from taking full ownership, this investment aligns with MGC-ASIA’s vision to build a comprehensive and future-ready mobility ecosystem that integrates advanced technology and sustainability following its Lifestyle Mobility Ecosystem strategy. With its 25-year experience and strong financial positioning, the move also reinforces the company’s belief in long-term sustainable growth.
“This acquisition highlights our commitment to strengthening our ecosystem and becoming a leader in the ‘Seamless Mobility and Lifestyle Ecosystem’ that encompasses premium automobiles, certified used cars, short- and long-term rental services, fleet management, Total EV Solutions, financial and insurance services, and integrated digital platforms,” said Dr. Sanhavut.
With over 25 years of experience and a solid financial foundation, MGC-ASIA is poised to achieve long-term, sustainable growth through this acquisition, which delivers three key strategic benefits:
- Strategic Alignment & Agility: By taking full ownership, MGC-ASIA can now fully align its EV and mobility strategies with unified goals. This enhances flexibility in strategic execution and improves responsiveness to the fast-changing and competitive mobility market.
- Integrated Service Synergies: This move allows MGC-ASIA to seamlessly integrate Neo Mobility’s services with its core businesses, including new and used car sales, comprehensive aftersales services, corporate fleet management, and a full range of EV rental solutions. This integration is expected to deliver strong synergies and improve long-term margins.
- Recurring Revenue Opportunities: The acquisition supports MGC-ASIA’s mission to create recurring income through future-ready services such as EV platforms, connected mobility, and an auto tech ecosystem, all tailored to modern consumer behaviors.
In the new era of mobility, Dr. Sanhavut concluded that MGC-ASIA is preparing to advance with a clear roadmap. The company plans to expand EV fleet services for both the public and private sectors to meet the growing demand for electric vehicles and develop platforms for EV Subscription and Car-as-a-Service models. It also plans to invest in Auto Hub Data Centers, AI, and Connected Car infrastructure while forming new partnerships with global EV tech providers.
These strategies reaffirm MGC-ASIA’s strong commitment to becoming a leader in the mobility ecosystem, shifting the focus from “selling cars” to “connecting lives and journeys” in meaningful ways while delivering long-term value to shareholders.
