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.
How prepared are you and your car for spring?
Thanks for being one of the first people to vote. Results will be available soon. Check for results
- 67 %Winter tires are off tune-up has been done and I'm set to take on the hot season!
- I've been procrastinating getting my winter tires put off. This weekend, I promise!
- I'm daydreaming of warmer days and to protest winter, I'm driving my convertible.
- Excited, see you around!