Mitsubishi Motors is set to invest Bt16bn ($473.23m) in Thailand by 2030, backing the automotive sector’s move towards electric vehicles (EVs).
Thai government spokesperson Lalida Perisvivatana told Reuters that the funding will be channelled into EV technology.
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The Japanese carmaker is currently assessing options for manufacturing and exporting pickup trucks, alongside developing an electric variant of its Pajero sports utility vehicle, with Thailand positioned as the production hub for these plans.
Thailand, ranked as Southeast Asia’s second-largest economy, is already home to a cluster of major vehicle manufacturers, including Toyota, Honda and China’s BYD.
According to GlobalData, the parent company of Just Auto, the country offers a deep supplier base, export-oriented manufacturing infrastructure and policy support for electrified vehicles.
At the same time, Japanese automakers are under pressure to respond to the rapid expansion of Chinese EV brands in the market.
Mitsubishi revealed in May that the Pajero nameplate would return to international markets, with the all-new cross-country SUV retaining the Pajero name ahead of its world premiere set for autumn 2026.
The model had been pulled from overseas markets back in 2021, meaning its reappearance marks the first time it will be sold globally in half a decade.
In April, Thailand gave the go-ahead to investment proposals worth Bt15bn from Isuzu Motors (Thailand) Company.
Isuzu is Thailand’s second-largest vehicle producer after Toyota, thanks to its strong pickup truck operations and its strong presence in the local truck market. The company produced close to 172,000 vehicles in the country last year, with pickup trucks accounting for around 76% of output.
In a further development from April, Chinese battery EV maker Xpeng Group indicated it was exploring plans to set up a manufacturing facility in Thailand.
A conclusive decision on Xpeng’s proposed investment is yet to be announced.
