The result of the Board of Directors of the National Electric Vehicle Policy Committee in putting a firm resolution to electric vehicles (EV) in Thailand last Thursday had boosted EV-related stocks to rally significantly.
On March 25, 2021, the share price of Energy Absolute Public Company Limited (EA) rose 4.26%. Global Power Synergy Public Company Limited (GPSC) increased 3.03%. Banpu Power Public Company Limited (BPP) gained 4.21%. Pioneer Motor Public Company Limited (PIMO) jumped 9.03%.
As the trend of EV is booming, many corporations advance into the business by establishing a battery factory and importing EV.
Gas stations plan to install charging stations to further their services other than gas filling. PTT Oil and Retail Business Public Company Limited (OR) and PTG Energy Public Company Limited (PTG) plan to establish 100 and 30 charging stations this year, respectively, and will reach 300 and 120 stations in 2022, respectively.
However, Bangchak Corporation Public Company Limited (BCP) has a different plan than other gas station operators. The company will open electric motorcycle rental services and battery changing services by investing 50 million baht on its subsidiary, BCV Innovation Company Limited, to take over Winnonie Company Limited (WINNONIE). The move has caught attention in the market due to it being a new business plan no one has ever done.
The revenue contribution from this business may not be as much as its core business, but when looking at the global trend of clean energy, this could become a long-term investment for BCP.