On August 16, 2023, the Stock Exchange of Thailand issued an announcement:　Notification of the joint venture and the establishment of PTT’s subsidiary to operate the business of two-wheeler electric vehicle production for sale, including battery swapping service．

According to the complete news article in the attached announcement,

ArunPlus(PTT’s 100% owned subsidiary）has formed a joint venture, Aionex, with KYCMO and KYMCO’s private equity Treasury Capital (KC) of Taiwan China. ArunPlus，KYMCO and KC hold 51%, 29% and 20% of the shares, respectively.