BANGKOK, Aug. 7, 2024 /PRNewswire/ -- The Thailand Board of Investment (BOI) today approved investment promotion applications worth a combined 1 billion baht (USD28 million) by Hyundai Mobility Manufacturing (Thailand) Co., Ltd., a unit of Korea's Hyundai Motor Company, to start in 2026 the local assembly of battery electric vehicles (BEV) and the batteries that power them.
The Hyundai project is placed under the second phase of Thailand's plan to become a production hub for electric vehicles, known as the EV 3.5 package, which aims to promote investment in manufacturing covering the entire EV industry ecosystem, from cars to batteries, key parts, and charging stations. As part of the EV 3.5 package, which covers a period of 4 years (2024-2027), the government provides incentives to manufacturers as well as subsidies to consumers purchasing EVs.
"Hyundai's entry in Thailand's EV sector is a very positive development, confirming the attractiveness of Thailand as both a manufacturing base and an important market," said Mr. Narit Therdsteerasukdi, Secretary General of the BOI. "Thailand's strong existing supply chain will allow Hyundai to source not less than a third of the raw materials and parts it needs from within Thailand, thus supporting the local industry."
The operations will be conducted with Thonburi Automotive Assembly Plant Co., Ltd. as strategic business partner.
The facility will also assemble an equal amount of EV batteries.
Under its 30@30 policy, Thailand expects EVs to represent at least 30% of the total motor vehicle production in the country by the year 2030. Thailand is the largest automotive production hub in Southeast Asia, and ranks in the top 10 in the world. So far, 18 manufacturers from China, Japan and Europe have either started making EVs in Thailand or announced they will begin over the next two years.
The BOI has already approved projects with a total investment value of over 80 billion baht in the EV supply chain.
According to the Global EV Outlook 2024 published by the IEA, in the first quarter of 2024, electric car sales around the world grew by around 25% compared with the first quarter of 2023. EV sales could reach around 17 million in 2024, accounting for more than one in five cars sold worldwide.
For more information, please contact:
Thailand Board of Investment
Tel. +66 (0) 2553 8111
Website: www.boi.go.th
YouTube: Think Asia, Invest Thailand
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Thailand BOI Approves Hyundai Mobility's Project to Assemble BEV Electric Cars and Batteries
"Stay in the Game" – A Shared Commitment to Excellence, Innovation, and Endurance.
LISBON, Portugal, May 23, 2026 /PRNewswire/ -- Changan Automobile today announced a global strategic partnership with the Portuguese Football Federation (FPF), becoming the Official Global Partner of the Portugal National Football Team. The announcement ceremony took place at Cidade do Futebol, the heart of Portuguese football, marking a significant milestone in Changan's long term commitment to the European market.
The event featured senior representatives from Changan and the FPF, alongside renowned Portuguese football legends. Highlights included the unveiling of the brand collaboration film "Sounds Like Changan", the ceremonial handover of the DEEPAL S05 Plug-In Hybrid (PHEV) to FPF leadership, and the official launch of a 1,000km European test drive program.
This collaboration goes beyond traditional sponsorship. It reflects a deep alignment of values – resilience, excellence, and long-termism. Both Changan Automobile and the FPF embody the philosophy of "Stay in the Game:" maintaining focus, consistency, and determination through every challenge.
"In football, staying 'in the game' means total commitment – to every tackle, every second of concentration, and every precise pass", said Mi Mengdong, Vice President of Changan Automobile "For Changan, it means continuous investment, relentless innovation, and standing firmly with our users. The Portuguese team has spent a century defining resilience. Changan has spent 45 years proving the power of long-termism. This is not sponsorship – it is true resonance."
The ceremony included a symbolic kick-off performed by Changan executives and legendary Portuguese football players, officially launching the partnership.
Following the ceremony, participants jointly waved the departure flag, marking the start of Changan's long-distance European test drive initiative. The route will span from Lisbon to Madrid to Turin, showcasing Changan's PHEV capabilities through real-world testing across diverse road and climate conditions, including verification of the 1000 km+ range.
Known as "The Team of the Quinas" (the crest of the Team features the five blue shields (quinas) from the Portuguese coat of arms), the Portugal National Football Team is one of the most recognized teams in global football, with a fanbase exceeding 500 million supporters worldwide.
"This partnership with Changan Automobile reflects the growing international relevance of Portuguese football and the values that define our Federation: ambition, innovation, resilience, and excellence. We are proud to join forces with a global brand that shares our long-term vision and commitment to continuous development, both on and off the pitch." FPF Commercial says.
As Changan Automobile accelerates its global expansion under the Vast Ocean Plan, Europe stands as a strategic priority. The collaboration with the FPF will support localized product planning and brand engagement across the region.
The focus centers on Changan's advanced New Energy Vehicle (NEV) lineup—including the CHANGAN NEVO Q05, CHANGAN DEEPAL models (S05/S07), and the premium intelligent AVATR vehicles (the Luxury SUV AVATR 11 and Futuristic Luxury Gran Coupe AVATR 12)—seamlessly bringing cutting-edge automotive innovation to Europe's passionate football community.
About Changan Automobile
With 164 years of industrial heritage and more than four decades of automobile manufacturing expertise, Changan Automobile has evolved from a pioneer of China's modern industry into a world-class automotive brand. Today, Changan operates 22 manufacturing bases and 77 plants worldwide, serving six major regional markets with exports to more than 100 countries and regions. The company directly employs over 110,000 people and supports more than one million jobs across its value chain.
About the Portuguese Football Federation
The Portuguese Football Federation (FPF) is the governing body of football in Portugal, responsible for organizing and developing the sport at all levels, including national teams and domestic competitions.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
Changan Automobile Announces Global Strategic Partnership with the Portugal National Football Team
Changan Automobile Announces Global Strategic Partnership with the Portugal National Football Team
