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
SINGAPORE, Dec. 25, 2024 /PRNewswire/ -- The highly anticipated English adaptation of the revenge rebirth series, Getting Even: The Secret Prodigy's Playbook, officially premiered on December 19th on FlexTV, the world-leading short drama streaming platform operated by Mega Matrix Inc. (NYSE American: MPU). The series delves into the intricacies of power struggles within the White family, chronicling the protagonist's journey of rebirth and empowerment to rewrite her destiny.
Audrey White, the legitimate daughter of the White family, was sent abroad at a young age due to family circumstances, gradually estranging her from her kin. When she finally returns home, eager to reunite with her family, she unexpectedly becomes the target of jealousy from Ruby White, the family's adopted daughter. Harboring deep resentment, Ruby orchestrates a kidnapping plot, culminating in a devastating fire designed to test the loyalty and affection of the White family.
Left to perish in the flames, Audrey is abandoned by her family but heroically rescued by her uncle. Miraculously, she is granted a second chance at life, returning three years prior with the power to alter her fate. Determined to expose Ruby's schemes, rebuild her family bonds, and claim her rightful respect and happiness, Audrey embarks on a journey of resilience and redemption.
FlexTV, operated by MPU, is a global leader in short drama streaming, delivering content in over 100 countries in multiple languages, including English, Japanese, Korean, Portuguese, Spanish, French, and Arabic. Known for its premium-quality dramas and unparalleled user experience, FlexTV has captured the hearts of audiences worldwide. The English version of Getting Even: The Secret Prodigy's Playbook, now streaming on FlexTV, offers a compelling exploration of familial power dynamics, the complexities of human nature, and the protagonist's growth and self-redemption in adversity. For more exciting content, please visit https://www.flextv.cc/.
#WealthyFamily #Revenge #Rebirth #ShortDrama #FlexTV #MPU
About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through its subsidiary, Yuder Pte, Ltd.. Mega Matrix Inc. is a Cayman Island corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.
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Mega Matrix Announced that the English Version of "Getting Even: The Secret Prodigy's Playbook" Now Streaming on FlexTV
