PTT Oil and Retail Business Plc (OR) has vowed to become Thailand's largest electric vehicle (EV) charging service provider, with the number of charging outlets projected to increase to 7,000 by 2030 under the company's "Rise OR" concept.
The plan was announced by OR's new chief executive Disathat Panyarachun, who was introduced to the public yesterday.
At present, the company operates 139 EV charging outlets.
Boosting the number of EV chargers to serve a growing number of EVs on the road is part of Rise OR, which is aimed at building sustainable growth for OR's businesses, especially those related to EVs and other non-oil businesses.
The National EV Policy Committee announced in 2011 that it wants EVs to constitute 50% of locally made vehicles by 2030, part of an ambitious plan to make the country a regional EV hub.
"My new job not only requires leadership but also capabilities to make data-based decisions, synergise businesses in and outside PTT Group and create tangible results," said Mr Disathat.
Working with a variety of businesses has been emphasised under OR's inclusive growth policy, which is aimed to help startups and SMEs overcome hindrances and enjoy good business outcomes together.
OR has so far partnered with many non-oil businesses and injected funds into many startups in order to synergise energy and lifestyle businesses both on physical and online platforms.
The company is proceeding with a five-year investment plan worth 101 billion baht, revised up from 93.5 billion baht, to expand its businesses, notably those in the food and beverage sector, by taking advantage of its network of petrol stations countrywide, according to a letter submitted to the Stock Exchange of Thailand in November 2022.
It plans to spend 33% of the budget to support businesses involving people's lifestyles, including coffee shops and restaurants.
Some 31% of the money will go to the mobility segment while 20% will be spent on innovation and new business development.
The rest of the budget will support new technologies used to analyse consumer behaviour and identify new business opportunities.
These plans are expected to increase the proportion of revenue from non-oil and overseas businesses and reduce earnings from OR's petrol stations.
As of October last year, the firm has a network of 2,484 petrol stations in Thailand and overseas.
OR is also the country's largest coffee franchise business operator under Cafe Amazon brand. It currently has 4,120 coffeehouses, including stand-alone cafés and those located in petrol stations in Thailand and overseas.
The company also jointly operates bubble tea, fried chicken and sushi bar businesses with its partners.
OR bought a 40% share in a laundry business valued at 1.1 billion baht from K-Nex Corporation, a retailer of laundry and drying machines and a franchiser of laundry self-services under the "Otteri Wash & Dry" brand.
