Hyundai to Establish $28 Million EV Plant in Thailand

The new facility aims to bolster Thailand's position as a leading electric vehicle hub in Southeast Asia.

Hyundai's investment will support the assembly of electric vehicles and batteries starting in 2026.
Thailand's government is offering tax incentives to attract major EV manufacturers.
Chinese automaker BYD currently leads Thailand's EV market with a significant market share.
Thailand aims for 30% of all vehicles produced by 2030 to be electric.
The new plant will leverage Thailand's existing auto supply chain to source materials locally.