Nissan Motor reportedly said on Friday it plans to invest about $US250 million in Thailand over the next five years to boost its model range and production capacity.

According to CBS Marketwatch, Japan’s second-biggest automaker said it will spend more than 10 billion baht ($246 million) on its 75%-owned Siam Nissan. It plans to at least double its employees from the current 2,000 by 2008 and introduce 10 new vehicles in the Thai market by that year, including its Teana luxury sedan and X-Trail sport utility vehicle.

With the new lineup, the company forecasts Siam Nissan to triple Thai sales to 130,000 by 2008, Nissan reportedly said in a statement.

Nissan plans to raise its annual production capacity at Nissan Siam to 200,000 units by 2008, from the current 130,000, CBS Marketwatch said.

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