Mitsubishi Motors Thailand remains committed to a 20-billion-baht investment in the country next year, as the Japanese automaker stressed it will not retreat from Thailand, rather shifting gears for global electric vehicle (EV) exports.
The company plans to spend 13 billion baht on EV production, including plans to produce 3,000 EVs. The remaining 7 billion baht is slated for a new car spray painting facility, said Industry Minister Suriya Jungrungreangkit.
"Mitsubishi will continue to invest in Thailand and aims to set up in Thailand for EV car exports," he said.
Mitsubishi Motors Corporation, the parent company of Mitsubishi Motors Thailand, announced in a three-year business plan released last month a focus on managing resources in Asean to grow market share in the region by 11%.
Mr Suriya visited yesterday Mitsubishi's factory in Laem Chabang industrial estate in Chon Buri and discussed the industry with executives.
Mitsubishi urged government support for its EV project and wants improved privileges and incentives to help an industry reeling from the pandemic and financial downturn. It expects the local automotive industry to recover starting next year.
Mitsubishi has three factories in Laem Chabang with a total production capacity of 424,000 cars a year, employing 7,000 people.
Two plants produce the Triton pickup and the Pajero Sport pickup passenger vehicle. The third makes two eco-car models: the Mirage and Attrage.
Mr Suriya said Mitsubishi plans to launch a new model, the Outlander plug-in hybrid EV, either later this year or the first quarter of 2021.
"Thailand is the company's largest manufacturing base outside of Japan," he said. "Mitsubishi aims to expand quality sales and establish a mutually complementary structure by strengthening the production operation."
Mitsubishi Thailand reported production of 353,000 units in 2019.
Meanwhile, Chinese automaker Great Wall Motors, which took over production facilities from US car giant GM in Thailand, plans to improve its manufacturing base in Rayong by October and expects to begin production in 2021.