South Korea's Hyundai Motor to set up electric vehicle and battery assembly plant in Thailand

The Thai Board of Investment (BOI) officially announced that Korean automaker Hyundai Motor has decided to invest heavily in Thailand to set up an electric vehicle and battery assembly plant with a total investment of 1 billion baht (about 28 million US dollars). The new plant is located in the southeast of Bangkok and is expected to be officially put into production in 2026, focusing on the localized assembly of electric vehicles and batteries.