Hyundai Mobility Thailand, a subsidiary of South Korea's Hyundai Motor Group, has announced plans to export battery electric vehicles (BEVs) produced at its Thai manufacturing plant to Australia starting in the fourth quarter of 2026.

The exports will be directed to the Australian market as part of the company's international operations.

Managing Director Wallop Chalermvongsavej said Hyundai is assessing suitable models and reviewing Australia's import regulations, including the New Vehicle Efficiency Standard (NVES). The NVES sets limits on the average carbon dioxide emissions of new passenger cars, sport utility vehicles and light commercial vehicles.

Australia also requires automakers to obtain import approval before shipping vehicles. Hyundai's Thai plant, which has an annual production capacity of 5,000 units, is supported by a battery manufacturing facility.

Together, the facilities represent an investment of THB 1 billion (US$ 29.9 million), supported by incentives from the Board of Investment under the EV3.5 scheme. Running from 2024 to 2027, the scheme offers tax reductions and subsidies to automakers in exchange for investments in BEV assembly plants. The scheme also requires companies to maintain a production-to-import ratio, with automakers producing two BEVs locally for every one imported between 2024 and 2025, increasing to a ratio of three-to-one by 2027.

Hyundai recently commenced production of the locally manufactured Ioniq 5 BEV, its first locally produced model in Thailand, with a target output of approximately 100 units per month. The company plans to offset 800 imported vehicles this year to comply with the EV3.5 scheme's requirements, according to Mr. Wallop.

At Hyundai's Thai plant, 46% of EV component costs are sourced locally, exceeding the government's minimum local content requirement of 40%. Hyundai aims to sell 2,800 Ioniq 5 units this year, compared with 2,300 units last year, and plans to expand its service network to 28 showrooms nationwide.

Mr. Wallop said government stimulus measures, foreign capital inflows and corporate earnings could affect economic conditions in Thailand during the second half of 2026. The Stock Exchange of Thailand index recently exceeded 1,600 points, compared with 1,300 points last year. Mr. Wallop said this has contributed to increased consumer confidence in the premium vehicle segment.