Thailand’s Board of Investment confirmed it has approved investments worth a total of THB52.7bn (USD1.61bn) for the second phase of the country’s Eco-Car programme.
The first phase was launched in 2007 and attracted a total of THB28.8bn in combined investments directly from Toyota, Honda, Mitsubishi, Suzuki and Nissan.
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A total of six projects have been approved for the second phase of the programme. Newcomer Ford pledged the largest investment, of THB18.2m, to build a facility capable of producing 180,000 eco-cars annually and also for a new engine plant.
General Motors has also decided to join the programme, pledging THB13.1bn to build a plant with a 158,000 unit/year capacity and also for a related engine plant.
Nissan Motor plans to invest THB6.7bn to add a further 123,000 units in annual capacity, while Toyota plans to invest THB1.9bn to raise its eco-car capacity to 160,000 units per year.
Mitsubishi will have the largest eco-car capacity, with the pledge of an additional THB4.9bn investment set to bring its total eco-car capacity to 233,000 units per year and total eco-car investment to THB7.7bn.
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By GlobalDataThe country’s entire eco-car production capacity will rise to 1.58m units per year once all the investments have been completed. Combined investment by the car companies is expected to exceed THB90bn, with additional investment expected to be made in the component supply chain sector.
