The head of Thailand’s biggest gas station network has $1.5 billion that says motorists will soon be stocking up on a different kind of fuel – coffee. In an insightful report, Reuters shone a light on the bet that Jiraporn Kaosawad, Chief Executive of PTT Oil and Retail Business (PTTOR), is placing on rolling out thousands of coffee shops at home and abroad, along with other non-oil businesses, as global auto and fuel players gear up for a near future dominated by electric car growth. PTTOR’s network now stands at 2,000 gas stations across Thailand: it plans to add another 500 by 2025, and to rapidly ramp up the number that are equipped with EV charging points, to 300 by 2022 from just 30 currently. Jiraporn plans for his Café Amazon business to maximize profit from fuel networks as drivers wait for their electrics cars to be charged up.
The post Reuters shines a light on Thai fuel giant bets billions on coffee and cookies at gas station of the future appeared first on Reuters News Agency.
