Nissan Motor announced on Monday that it was almost tripling its planned investment in its Thai subsidiary over the next three years to 29 billion baht ($US752 million; €570 million) from 10 billion baht, the Associated Press (AP) reported.

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Kosaku Hosokawa, president of the Thai company, reportedly said at a news conference the investment is aimed at boosting production capacity as well as strengthening the company’s presence in Thailand, where its 75%-owned manufacturing and distributing unit, Siam Nissan Automobile Co., has a market share of about 7.3%.


AP noted that Nissan announced in July last year its plans to increase its production capacity in Thailand to 200,000 vehicles a year by 2008 from the current 130,000.


The investment will also enable Siam Nissan to expand its annual engine production to 250,000 units by 2008 from 42,000 last year, the report added.


The Associated Press said Siam Nissan currently ranks fourth in Thailand’s car market, behind local units of Toyota, Isuzu and Honda.

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