Nissan to invest $358 million in Thai plant
BANGKOK - Nissan Motor Co. says it is investing $358 million to build a new plant in Thailand to increase its production capacity and boost its growth in the Southeast Asian region.
The company's executive vice-president, Hiroto Saikawa, said Friday the assembly facility will add 150,000 units of production capacity to the existing plant in Thailand.
Nissan expected to increase the number to 370,000 units per year once the new facility operates at full capacity. It is scheduled to start production in 2014.
Thailand is the largest manufacturing centre in Southeast Asia for Nissan.
Saikawa said the investment will also add 2,000 new jobs to the Thai economy.
Nissan aims to increase its market share in Thailand to 15 per cent by 2016, compared to about 9 per cent in 2011.
A 1967 Shelby GT500 Super Snake sold for $1.3 million. Do you think classic cars were made better than modern rides?
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- Yes, the quality of cars from the 1960s and '70s is the best
- No, modern technology makes cars better today
- Maybe, it's hard to say since most Canadians get a new car every 10 years