Nissan to invest US$330m in Thai hybrid/EV production
Nissan plans to invest around THB10bn (US$330m) in its Thai operations over the next three years to increase production capacity and bring to market new hybrid and EV vehicles.
Nissan Motor Thailand's president Ramesh Narasimhan told reporters that the company is currently putting the final touches to a three-year business plan for its Thai operations, which currently employ 5,000 workers at two vehicle assembly plant with a combined annual production capacity of 295,000 units.
Last week the company launched the new locally-made Almera eco-car in Thailand, which will also be exported to other markets in Asia and Oceania from 2020.
The Thai the Board of Investment recently approved two investment projects for Nissan to produce hybrid and electric vehicles in the country and fresh investment will be needed to bring these models to market.
Thailand has been one of Nissan's best-performing markets in the last two years, with sales jumping by over 21% to 72,400 units in 2018, while declining by just 2.7% to 49,700 units in the first nine months of 2019.
The company produced a total of 163,600 vehicles in the country last year, up by 24% on the 131,900 units it built in 2017.