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Fortune

Lionel Lim

Hyundai debuts a new EV facility in Thailand, as the ‘Detroit of Asia’ pivots to making electric cars

Hyundai Thailand BYD United States

(Credit: Peerapon Boonyakiat—SOPA Images/LightRocket/Getty Images)

Thailand, a manufacturing hub for Japanese, U.S. and increasingly Chinese automakers, is now attracting Korean carmakers too.

Thailand’s Board of Investment said on Wednesday that Hyundai is investing 1 billion baht ($28.3 million) to set up a facility to assemble electric vehicles and batteries. The new plant will be located just southeast of Bangkok and is expected to start production in 2026.

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