Hyundai's Electric Vehicle Initiatives

Hyundai, a major player in the electric vehicle sector, continues to make significant advancements and investments to strengthen its market position Recently, in a thrilling drag race, the Hyundai IONIQ 5 N showcased its capabilities against the Tesla Model 3 Performance Despite packing more horsepower, its heavier weight was a notable factor in the competition. Additionally, Hyundai has committed to expanding its manufacturing capabilities by investing 1 billion baht ($28 million) to establish an electric vehicle and battery assembly facility in Thailand This move is part of Hyundai's strategy to tap into Thailand's rapidly growing electric vehicle market, currently dominated by Chinese manufacturers such as BYD and Great Wall Motors Despite these advancements, the broader market for electric vehicles continues to grapple with high costs, with average prices around $56,371 as of June 2024, making affordability a significant challenge for consumers..