Toyota is expected to announce a major investment in its Thai passenger car business next month, according to local reports citing the country's deputy prime minister Somkid Jatusripitak.
Somkid said Toyota's Shinya Kotera confirmed at a recent meeting the Japanese automaker planned to expand its emerging markets compact car development and production operations in Thailand which are also responsible for exports to emerging markets globally.
The investment is expected to be made in conjuction with the automaker's Daihatsu Motor subsidiary. According to a local Toyota official, the company will look to enhance economies of scale with other Toyota vehicle programmes in the country, including pickup trucks and forthcoming hybrid electric vehicles.
The investment is expected to get the go ahead at Toyota's board meeting next month.
Toyota also is expected to announce spending on hybrid electric vehicle production in Thailand along with plans to export such vehicles to neighbouring markets in south east Asia.