Gotion and PTT Group plan battery venture in Thailand

BEIJING : Volkswagen-backed Chinese battery maker Gotion High Tech will partner Thailand's PTT Group in the production and export of battery modules and packs in Thailand, the company said in a Shenzhen filing on Thursday.

Gotion's Singapore unit will set up a joint venture with PTT for the projects with initial registered capital of 300 million Thai Baht ($8.60 million), the company said.

($1 = $1.0000)

($1 = 34.9000 baht)