Thailand Approves Hyundai's $28 Million EV Investment

Aug 7, 2024, 04:08 AM

Thailand has approved a significant investment from South Korean automaker Hyundai, valued at 1 billion baht ($28 million), to establish an electric vehicle (EV) production facility. The investment, confirmed by the Thai Board of Investment, will enable Hyundai Mobility Manufacturing (Thailand) to produce EVs and batteries in the country. Narit Therdsteerasukdi, Secretary General of the Board of Investment, announced the approval, marking a substantial step in Thailand's efforts to boost its EV manufacturing capabilities.