Toyota backs Thailand for compact eco cars

Toyota backs Thailand for compact eco cars

26/04/17

Paul Nicholson, Corporate Services Manager

Japanese car manufacturer Toyota announced plans to produce compact cars in Thailand as part of its emerging markets car strategy, reports the Bangkok Post.

Thailand’s Deputy Prime Minister Somkid Jatusripitak said that Toyota planned a record investment in the country’s automotive industry, although no figure was specified.

The move comes after Toyota’s acquisition of Daihatsu as part of its strategy to build compact electric vehicles for emerging markets in Southeast Asia.

The news is a boost for Thailand’s plans to develop its Eastern Economic Corridor and create a regional hub for manufacturing and export through the Port of Rayong TPI Terminal.

German car manufacturer BMW also invested 2.6bn Thai baht in electric vehicle battery production in Thailand last year, where the automotive sector accounts for 10 per cent of GDP.