Thailand Business News

Industry Minister: Mitsubishi Motors to expand investment in…

TOKYO (NNT) – The government’s investment roadshow in Japan went well on the first day, with Mitsubishi Motors Corporation affirming its intention to expand its investment in Thailand.

The Industry Minister, Suriya Juangroongruangkit, had a discussion with the Chief Executive Officer (CEO) of Mitsubishi Motors, Osamu Masuko, on investment opportunities in Thailand. Mr. Suriya said the CEO had confirmed that Mitsubishi Motors will expand its investment in Thailand due to the country’s readiness in all respects and low operating costs as well as its status as the regional transportation hub.

“The company’s CEO affirmed that it will continue investing in Thailand, even though it was invited to invest in other ASEAN countries. The company’s CEO said Thailand is more ready than other countries and has low operating costs. There are also many engineers and business experts. They want Thailand to support them. For instance, they now want personnel with expertise in engineering. Currently, Thailand has a training center in this field.”

Mitsubishi Motors plans to invest in electric vehicle (EV) production in Thailand and aims to make the country the EV production center of the region. With an investment budget of 20 billion baht, seven billion baht will be invested in improving manufacturing plants and production lines. The remaining 13 billion baht will be invested in producing plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs). The 3.13-billion-baht PHEV project has been endorsed by the Board of Investment (BOI), and production will start in 2021. The HEV and BEV projects will commence in 2024.

The Industry Minister and his officials also visited Mitsubishi Motors’ technology exhibition, featuring future EVs. The exhibition officially opened in July this year. Innovative vehicles designed by the company are on display at the exhibition.

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