Mergermarket: Thai Tycoon Charged up
about Opportunities to Build
Ecosystem for Mile Green

Hong Kong, Hong Kong SAR– September 22, 2025  Chatchaval Jiaravanon is building a sustainable ecosystem around his key investment Mile Green, an electric vehicle (EV) maker, with an eye out for partnerships and M&A, the third-generation member of the billionaire Chearavanont family of Thailand told
Mergermarket in an exclusive interview.

“We have a unique opportunity to take the lead in Southeast Asia,” Jiaravanon said of Mile Green, pointing to a rising demand for EVs and related solutions in the region.

By integrating infrastructure, financing and technology, Jiaravanon said he wants to provide comprehensive solutions, enhance sustainability and position Mile Green as a regional leader.

Owner of the 95-year-old publication Fortune Media, the Thai tycoon is now stepping into the renewable energy segment, betting that the robust infrastructure of the APAC region can facilitate widespread use of EVs, including the two-wheeled variety employed by Mile Green.

To the Manor Born
Jiaravanon is a member of the Chearavanont family, owners of the Thailand-based conglomerate Charoen Pokphand Group (CP Group). The Chearavanonts are one of the richest families in the world, with an estimated net worth of USD 44.1 bn as of December 2024, ranking 19th on Bloomberg's Billionaires Index.

The privately held CP Group is the family’s flagship enterprise with over 450,000 employees across the world. Its listed vehicles include Charoen Pokphand Foods Public Company and CP ALL Public Company, the sole operator of 7-Eleven convenience stores in Thailand.

Jiaravanon, 63, sees the investment in Mile Green as a new adventure, full of potential. He said he is inspired by what he termed the low penetration rate of EV use in Southeast Asia.

While there are currently roughly 250 million motorcycles plying the roads of Southeast Asia, less than 1% are electric. The potential for growth in this sector is significant, according to Maverick Hui, founder and executive chairman of Mile Green.

Building an Ecosystem
The Thai tycoon, a co-founder of Mile Green, said he is exploring a range of deal structures, including partnerships, investments and acquisitions, that will bring synergies to his Hong Kong- and Thailand-headquartered two-wheeled EV portfolio.

 

Mile Green is keen to engage with potential partners and targets across a range of sectors, such as blockchain, the internet of things(IoT), EV battery technologies, renewable energy, and real estate.
 

Mile Green founder Hui expanded on the strategy. “We are not just looking to sell bikes; we are building an ecosystem that includes infrastructure, financing and technological support.”

In early September, Mile Green signed a strategic cooperation agreement with Hong Kong-listed Cornerstone Technologies to provide charging solutions that support the rapidly growing electric motorcycle market in Thailand.

Jiaravanon is also focused on financing solutions, particularly through blockchain technology. By leveraging real-world assets (RWA)and stablecoins, Mile Green aims to facilitate transactions and investments in green technologies.
 

In August, the company, alongside Jiaravanon-backed CMAG Funds managed by Wonder Capital Group,
launched a Web 3.0/RWA project EVOLVE, enabling clients to tokenize a portfolio of income-generating properties, new energy assets, two-wheel EV and charging infrastructure.
 

Mile Green acquired a 9.3% stake in a Hong Kong-listed IoT solution provider Pangaea Connectivity Technology via a new share offering last month. Through the EVOLVE project and these recent investments, Mile Green is endeavouring to explore business opportunities in RWA.
 

Back in June, Mile Green, together with CMAG Funds, participated in Nasdaq-listed Amber International’s USD 25.5m private placement.
 

When asked about his exit strategy, Jiaravanon said he rarely divests from his investments. However, he said he is open to restructuring or flipping them if doing so aligns with his long-term vision.

Mile Green aims to go public when its valuation exceeds USD 1bn. It was valued at around USD 150m, following CMAG Funds’ acquisition of a 30% stake, according to Mergermarket’s report in May.

by Eva Ng and Wong Ka-chun

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About Mile Green

Dual headquartered in Hong Kong and Thailand, Mile Green is a holistic solution provider of sustainable technology and electric vehicle (EV) ecosystem. It was founded and co-invested by a group of industrial and finance veterans from Hong Kong, followed by CMAG Funds and other global investors. Dedicated to sustainability, Mile Green integrates EV, green battery technology, fast charging and battery-swapping network, Web3 ecosystem, and fintech solution to accelerate the global transition to a new economy compliant with Environmental, Social, and Governance.

 

About EVOLVE RWA

EVOLVE is a strategic Real-World Asset (RWA) tokenization ecosystem co-developed by a consortium of institutional leaders from Hong Kong and Thailand. Targeting high-growth economic corridors along Belt and Road beginning in Southeast Asia, EVOLVE tokenizes a curated portfolio of assets focused on green energy, real estate, private credit and diversified fixed-income structures, revolutionizing fractional ownership and global capital flows.

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www.evolverwa.io

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