Honda Motor said on Wednesday it will invest 1.17 billion baht in Thailand next year, mainly to enhance research and development for motorcycles, according to Dow Jones.
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The report said will invest THB850 million to expand the operations of Honda R&D Southeast Asia Co., and another THB317 million to set up the Honda Thailand Technical Training Centre.
According to Dow Jones, the THB850 million investment will make Thailand the centre of Honda’s motorcycle product and development in the Southeast Asian region and Honda’s third largest motorcycle R&D operation.
Honda expects its motorcycle sales in the region to rise by 8% to 3.8 million units in 2004, of which 1.3 million will be sold in Thailand, Dow Jones said.
The report said Honda also plans to sell 160,000 cars across Southeast Asia in 2004, up 23% from this year with the Thai market expected to contribute 78,000 units.
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By GlobalDataThe company also reportedly said its exports from Thailand next year should jump 26% to THB47.50 billion, mainly boosted by automotive parts and multi-purpose portable power engines.
