South Korean car giant Hyundai Motor will invest 1 billion baht (US$28 million) to set up a facility to assemble electric vehicles (EVs) and batteries in Thailand, according to the country’s Board of Investment (BOI).
Thailand’s booming EV sector is currently dominated by Chinese carmakers, including BYD (Build Your Dreams) and Great Wall Motors. They are using the country as a manufacturing base for exporting vehicles across Southeast Asia.
The Hyundai factory is expected start production in 2026.
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