Mitsubishi to invest $532 million in a new Thailand plant

Article by Christian A., on December 11, 2010

Mitsubishi Motors Corp. aims to invest THB16 billion ($532 million) in a new Thailand plant where it will start producing a global compact model in March 2012. The Tokyo-based Mitsubishi makes the i-MiEV electric car. The company says it will produce 150,000 units of the new model annually.

President Osamu Masuko recently said that Mitsubishi wants to export the small car to overseas markets including Japan and Europe. He said the sale price will be THB400,000 in Thailand for the car, which will be introduced at the Geneva auto show in March 2011.

The company said that annual production capacity at Mitsubishi's third Thai plant may eventually rise to 200,000 units. Mitsubishi added the new model will be an affordable, fuel-efficient car with a 1.0- to 1.2-liter engine that will be exported from Thailand.

Mitsubishi is adding the compact as competitors introduce new small cars to meet rising global demand, especially in emerging markets.

Toyota Motor Corp. started selling its new Etios compact in India in December 2010 and will also make the model in Thailand, where tax incentives and a population of 67 million are attracting investments from automakers.

Auto production in Thailand, Southeast Asia's second-largest economy, rose 76 percent to 1.35 million between January and October, the Thai Automotive Club, a trade group of automakers, said on Nov. 17, 2010.

If you liked the article, share on:

Comments

Recommended

Imagine a sports car morphing into an SUV. Chevrolet initially revealed the FNR Concept at the previous Shanghai Auto Show in 2015. For this year, Chevy once again graces the...
by - April 22, 2017
From the moment FCA kicked off with its 3-month-long ad campaign until the day it unveiled the new Dodge Challenger SRT Demon, folks have been guessing what the exact figures...
by - April 22, 2017
Some people may think Audi Sport is a new company but it is in fact the motorsport division of Audi combined with the best of what Quattro GmbH can offer....
by - April 21, 2017
It is not a big secret that premium customers in China have a strong penchant for luxury cars with a spacious interior. In particular, premium customers in China purchase luxury...
by - April 21, 2017
Chinese automaker Chery did not leave a good impression last time they were in Australia - due to its cheap design. But this year, Chery showcases its new Tiggo Sport...
by - April 21, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries