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Thailand BOI Approves Hyundai Mobility's Project to Assemble BEV Electric Cars and Batteries

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Thailand BOI Approves Hyundai Mobility's Project to Assemble BEV Electric Cars and Batteries
Business

Business

Thailand BOI Approves Hyundai Mobility's Project to Assemble BEV Electric Cars and Batteries

2024-08-07 16:21 Last Updated At:16:45

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

Thailand BOI Approves Hyundai Mobility's Project to Assemble BEV Electric Cars and Batteries

NEW YORK, Feb. 21, 2025 /PRNewswire/ -- In a recent announcement, Bestqool is upgrading both the Pro100 and Pro200 to the four-wavelength configuration (630 nm, 660 nm, 850 nm, 940 nm) as the Pro 300, without increasing the price. Apart from this upgrade, Bestqool has also introduced a second-gen light mobile stand that is more controllable and powerful than its predecessor.

Bestqool is one of the earliest brands in the red light therapy industry, pursuing innovation in product development to meet the emerging needs in health and wellness. These new products further demonstrate how Bestqool is committed to transforming lives by ensuring people have access to high-quality red light therapy at home.

Two New Wavelengths Unlocking Diverse Medical Benefits

The Pro100 and Pro200 were initially available with two wavelengths, 660 nm and 850 nm, which assist in inflammation reduction and blood circulation. Two new wavelengths have been added with the recent upgrade —630 nm and 940 nm. These new additions stretch the spectrum and make the devices more versatile and able to cater to a wider range of consumer needs.

For users, the availability of these two wavelengths adds more effective therapies targeting multiple pain points and conditions. From mood improvement to ocular fatigue relief, hair growth support, cognitive function aid, and energy and immunity boosting, Bestqool's professional-grade apparatus allows users to physically and mentally lead a healthier, more powerful existence that enables them to live with greater enjoyment in today's speedily changing world.

Upgraded mobile stand and powerful panel light ≠ heavy and clumsy

Bestqool is dedicated to improving user experience, which is evident from their second-generation mobile stand. This stand provides easy adjustment for large-volume red light devices during home therapy sessions, enhancing safety and comfort while performing therapy. 

Key Upgrades:

The 2nd Gen mobile stand is also compatible with 99% of the red light therapy products available today; with its help, even users of other brands devices can have a higher level of use experience. The refined stand facilitates the setup of multiple devices, producing an enjoyable and flexible experience for users.

Cost Effectiveness: Major Benefit for Customers

One of the standout features of the Pro Series upgrade is that despite adding two other wavelengths, Bestqool has not increased the price of the Pro100 and Pro200. The upgrade ensures that consumers can access cutting-edge, multi-band therapy at the same price level, making it one of the most cost-effective solutions in the world of red light therapy.

Also, users don't have to buy multiple devices for their needs. With the updated Pro Series, one device can meet a variety of needs, spanning post-workout recovery, muscle and joint pain relief, skin repair, and enhanced cognitive function. This flexibility allows individuals to explore their health with greater accessibility and cost-effectiveness.

The Ingenious Technology Behind the Upgrade

The upgraded Pro100 and Pro200 are designed to produce the best results possible, according to the R&D team at Bestqool, who has reportedly left no stone unturned. The following improvements were done:

About Bestqool

With a commitment to providing high-quality red light therapy solutions that are affordable and accessible to all, Bestqool invests significantly in R&D to ensure each product meets the highest standards of both quality and performance. This dedication to constant development and service quality has earned them countless loyal customers as the franchise continues to set the standard in the wellness industry.

Market impact and availability

There are two main purchasing channels for the products: Amazon and the official website of Bestqool. With warehouses in Europe, America, and Asia, Bestqool assures effective and reliable services to all its customers globally. Additionally, Bestqool offers up to a three-year warranty on its products. This commitment to after-sales service reflects the company's confidence in its quality and helps strengthen relationships with customers.

Contact
For media contact and inquiries, please contact
Giselle
Email: marketing@Bestqool.com 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Bestqool Unveils Four-Wavelength Pro Series and Second-Gen Mobile Stand at Original Price

Bestqool Unveils Four-Wavelength Pro Series and Second-Gen Mobile Stand at Original Price

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