Wednesday, October 10, 2007

Honda to expand investment in Thailand

Honda, a leading Japanese automaker, would go ahead with its plan to produce eco-car project in Thailand with a plan to build a Bt6.7 billion new assembly plant with an additional

investment fund of Bt6.2 billion, according to Honda Automobile (Thailand) Co., Ltd. President Kenji Otaka.

Mr. Otaka said Honda planned to invest Bt6.7 billion to build the new assembly plant to produce an environmental friendly car or eco-car in the central province of Ayuthaya under a support plan of the Board of Investment (BoI).

Honda would also invest additional Bt6.2 billion to expand production capacity to increase the company's overall output in Thailand from 120,000 units to 240,000 units annually, he said.

The cars produced by Honda Automobile (Thailand) would hit one million units in November, he said, adding that the Honda plant in Thailand is the sixth biggest plant of Honda worldwide after Japan, the

United States, China, Canada and United Kingdom respectively.

Mr. Otaka also said that the leading Japanese automaker planned to make Honda the most popular car brand in Thailand by 2010 and during the next 15 months, Honda would launch 3 to 4 new models into that Thai market.

He conceded that the car market in Thailand had slowed down but it could achieve 65,000 units this year.

As for the export of car and its spare parts, he said, Honda anticipated that they could hit Bt61.5 billion, 22 per cent increase.

The most popular models for export are the Honda Civic and the CRV.(TNA)

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