Susco Beyond, a wholly-owned subsidiary of Thai oil retailer Susco Plc, continues to focus on non-oil businesses, including electric vehicles (EVs) under the BYD brand, to diversify from uncertainties in the oil business as prices fluctuate.
The company partnered with Rever Automotive Co, the sole distributor of Chinese-made BYD cars, to benefit from the growth of the EV market and its promotion by the Thai government.
Susco and Rever Automotive jointly opened a new BYD showroom in the Pratunam Phra-in area of Ayutthaya's Wang Noi district earlier this month, said Chairit Simaroj, managing director of Susco.
The showroom offers full maintenance services and paint and body repair for BYD owners in the provinces of Ayutthaya, Ang Thong and Sing Buri.
Rever Automotive aims to open 100 showrooms in Thailand this year, an increase from 30 showrooms at present, and increase the number of sales agents in Bangkok as BYD is scheduled to launch a new model later in 2023.
The firm also formed AS Macharge Co, a joint venture with AMR Asia Plc, a system integration and engineering service provider, to run an electric motorcycle rental service, a battery swapping service, and an electric motorcycle maintenance centre.
The swapping service allows a rider to replace a battery with low power levels with a fully charged one without the need to have the motorcycle charged.
These services will be offered next month on Samui in the southern province of Surat Thani to serve both Thai and foreign tourists.
Four Susco-run petrol stations on Samui will provide the service for customers.
AS Macharge is operating the business with a 10-million-baht budget.
Up to 40 electric motorcycles, each priced around 90,000 baht, would be imported from China, said Mr Chairit.
If the services receive a good response, Susco will expand this business to other tourist destinations, especially Phuket. Mr Chairit said the number of battery-run motorcycles for rent there should be 300-400.
Susco diversified into non-oil businesses several years ago by opening food and beverage shops, as well as convenience stores at its petrol stations.
The company also joined hands with China-based national oil firm Synopec to set up the joint venture Synopec-Susco Co to embark on the energy business in Thailand.
Mr Chairit said Synopec plans to open 100 gas stations in Thailand within five years under the joint venture.
Partnering with Synopec is also expected to help Susco boost its jet oil sales by 60-70% in the long term.
Susco has allocated a 400-million-baht budget for use between 2023 and 2027. Some 200 million baht will be spent this year building 10 new petrol stations and renovating 30 existing stations, while the remainder will support the construction of BYD showrooms and the installation of rooftop solar panels at petrol stations.
