Mazda Automobile has pledged to invest $5 billion (US$150 million) in Thailand to produce electric compact sports multi-purpose vehicle cars (SUVs).
The investment, revealed by the BOI, aims to produce 100,000 units per year.
The program will support domestic sales and exports to Japan, ASEAN countries and other international markets.
This move is expected to make Thailand the manufacturing hub for Mazda's compact SUV product line.
Masahiro Moro, President and CEO of Mazda, said: “Mazda’s investment in electrified compact SUVs marks an important step forward and the beginning of a gradual transition to XEV production.
“The vehicles to be produced will be high-performance compact SUVs that meet international standards both in terms of environmentally friendly and hybrid technology.”
Mazda has over 70 years of history in the Thai auto market and operates two factories: Automatic cashing (AAT), founded in 1995 to produce passenger and commercial vehicles, and Mazda Powertrain Manufacturing (MPMT) , established for engines and transmitters in 2015.
The new investment will upgrade two factories to support future electrification products, including key components such as vehicle components, engines, transmissions, powertrains and batteries.
Mazda's plan includes developing its network of local suppliers to increase production capacity.
Narit Therdsteerasukdi, Secretary General of Thailand BOI, said: “The announcement of Mazda Automobile is a significant investment in Thailand’s continued development as a manufacturing hub in all areas of the automotive industry and a huge support for our policy support for the industry, including all types of hybrid technologies.
“Mazda’s commitment to Thailand and its confidence in the country’s capabilities lie at the roadshow that BOI will take next week in Japan and clearly demonstrates Japan’s potential to invest more in Thailand in automotive and other technology fields.”
Last month, Mazda announced plans to build a new battery pack factory in Ivakuni City, Yamaguchi Prefecture, Japan.
The facility will produce modules and packaging for automotive cylindrical lithium-ion battery batteries, which will be provided by Panasonic Energy.
“Mazda will invest $150 million to produce electric SUVs in Thailand”, originally created and released by global Data-owned brand Just Auto.
The information on this website is included in sincerity only for general information purposes. It is not intended to rely on the advice you should rely on, and we do not provide any representation, warranty or warranty that express or imply its accuracy or completeness. You must take or avoid any action based on the content on our website to obtain professional or professional advice.
