Hyundai Thailand Subsidiary to Export EVs to Australia from Second Half

Hyundai Motor Group’s Thai subsidiary plans to begin exporting battery electric vehicles (BEVs) to Australia in the second half of this year to boost capacity utilization at its newly built production facility. Located in Samut Prakan Province, Thailand, the facility was jointly invested in by Hyundai and local contract manufacturer Thonburi Group with 1 billion Thai baht (approximately USD 30 million). It includes a BEV assembly plant and an accompanying battery pack assembly line, with an initial annual production capacity of 5,000 units. Production of the IONIQ 5 commenced at the plant in the first half of this year, with 46% of its components sourced locally—exceeding the 40% local content threshold required under Thailand’s Board of Investment EV 3.5 incentive scheme for electric vehicles. Hyundai aims to sell 2,800 IONIQ 5 units in Thailand this year, up from 2,300 units imported and sold last year, and plans to expand its nationwide dealership and service network to 28 outlets. The company is currently evaluating models suitable for export to Australia that comply with the country’s New Vehicle Efficiency Standard (NVES), which sets clear limits on vehicle carbon dioxide emissions.