Hyundai expands EV investments in Thailand and Malaysia to counter rising Chinese competition in Southeast Asia.

Hyundai is boosting its Southeast Asian EV push with a 1-billion-baht Thailand plant and 680 billion won in Malaysia investments starting in 2025, amid rising pressure from Chinese automakers like BYD and VinFast, which saw explosive sales growth in 2025. BYD’s Indonesian sales surged from 1,596 to 14,092 units, outpacing Hyundai’s decline. Chinese firms plan massive local production expansions by 2030, prompting Hyundai to consider cheaper lithium iron phosphate batteries and expand dealer networks to keep pace in the region’s tariff-free market.