Bangkok – Hyundai Mobility Manufacturing (Thailand) announces a major investment of 1 billion baht to produce IONIQ electric vehicles and batteries in Thailand, following the green light from the Board of Investment (BOI) under the EV3.5 electric vehicle promotion policy.
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Mr. Jae Kew Jeong, CEO of Hyundai Mobility Manufacturing (Thailand), confidently stated, “We have confidence in Thailand’s potential and have designated it as one of Hyundai’s strategic locations in Southeast Asia.”
The BOI’s approval reinforces Hyundai’s confidence in Thailand and is a positive response to the government’s electric vehicle promotion policy.
“Building the Foundation for Electric Vehicles in Thailand”
Mr. Jeong emphasized the significance of this investment, stating, “This marks another important milestone for Hyundai in building the foundation for electric vehicles in Thailand.”
Hyundai Mobility Manufacturing (Thailand) believes that this investment will accelerate the transition to the electric vehicle era in Thailand, while offering consumers more choices with high-quality electric vehicles produced domestically.
“Collaboration is the Key to Success”
This project is a result of collaboration between Hyundai Mobility Manufacturing (Thailand) and a leading automobile assembly plant in the country, with the goal of starting production in early 2026.
Furthermore, the company is collaborating with the BOI to integrate Thai parts manufacturers into the automotive supply chain as much as possible.
“A Sustainable Future”
This investment aligns with Hyundai’s vision of “Progress for Humanity,” aiming to reduce pollution on the roads and create cleaner air.
Hyundai Mobility Manufacturing (Thailand) is currently in the process of applying for approval to participate in the EV3.5 program and will reveal further details about this project in the future.
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