Cho Thavee Public Company Limited (CHO) announced that the company has signed a Memorandum of Understanding (MOU) with AJ Advance Technology Public Company Limited (AJA) on September 17, 2021, to study the structure, components and prices of electric motorcycles, for the possibility of producing assemble an electric motorcycle in whole or in part and an electric motorcycle battery.
The objective is to reduce the cost of building electric motorcycles in sales and after sales service to customers.
This Memorandum of Understanding (MOU) is just a cooperation to study the feasibility of the above objectives; it is expected to see clarity within 2021. If this project cannot be completed, this MOU will be terminated and not be binding on both parties in any way.
However, if there is a clear progress in the project and/or develop cooperation between them, CHO will inform the Stock Exchange of Thailand including all investors according to the relevant rules.