Toyota pumps cash into Thai hub despite floods
TOYOTA says it will spend $250 million on investment in Thailand, showing its confidence in the SouthEast Asian car sector hub despite floods last year that caused severe disruption to the sector.
The Japanese car maker is building a manufacturing plant at Gateway industrial park and restarting a production line at its Thai Auto Works (TAW) plant, where its Fortuners were produced, Kyoichi Tanada, president of the Toyota Motor Thai unit, says.
‘‘The reason we invest more is simply because we’re not producing enough,’’ Mr Tanada says.
The combined production capacity of the two new Toyota plants will be 88,000 units, he says, expecting the Gateway plant in Chachoengsao province to be ready for production in July 2013.
It will produce passenger cars, as well as environmentally friendly ‘‘eco cars’’. The TAW plant in Samut Prakan province, which was closed in May 2010 after a drop in demand, will be able to start in December this year, he says.