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South Korean automaker Kia is in talks with Thailand to build an electric vehicle factory in the Southeast Asian country as it seeks to become the region’s leader in electric vehicle manufacturing. The discussion focused on incentives Kia is seeking from the Thai government.
Kia and Thailand’s Board of Investment (BOI) have not yet responded to requests for comment. Thailand has launched a series of incentives to position itself as a regional leader in electric vehicle production.
Thailand is also in independent negotiations with Tesla on building a new factory and plans to increase electric vehicle production to an annual production target of 2.5 million vehicles by 2030.
(Source: Reuters Image source: Unsplash)
