Nissan invests $358 million in Thailand plant
New facility will add 150,000 units to automaker's existing capacity in south Asian country.
BANGKOK, Thailand—Nissan Motor Co. is investing $358 million to build a new plant in Thailand that will increase its production capacity and boost growth in the Southeast Asian region.
The company’s executive vice-president, Hiroto Saikawa, said the assembly facility will add 150,000 units of production capacity to the existing plant in Thailand.
Nissan expects to increase the number to 370,000 units per year once the facility is chugging along at full capacity.
It is scheduled to start production in 2014.
Nissan has yet to announce which models it will produce at the plant.
Thailand is the largest manufacturing centre in Southeast Asia for Nissan.
Saikawa said the investment will also add 2,000 new jobs to the country.
The automaker says it aims to increase its market share in Thailand to 15% by 2016, compared to about 9% in 2011.
©The Canadian Press