Japan's Mazda plans $150 million investment in Thailand EV production [Yahoo! Finance]
MAZDA MOTOR CORP UNSP/ADR (MZDAY)
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Source: Yahoo! Finance
Thu, February 13, 2025 at 9:52 AM GMT+1 1 min read In This Article MZDAY BANGKOK (Reuters) - Mazda Motor Corp plans to invest 5 billion baht ($150 million) in Thailand to produce electric compact sport utility vehicles, Thailand's Board of Investment said on Thursday. The "investment is to support domestic sales and exports to Japan and other countries, such as ASEAN (Southeast Asian) countries, targeting a production of 100,000 units per year," the investment board said, quoting Mazda President Moro Masahiro. The new investment comes amid a slump in Thailand's automotive industry, the region's largest, with production at a 4-year low last year. Domestic auto sales fell 26.2% in 2024, due to credit conditions at financial institutions tightening from soaring household debt, which was equivalent to 89% of gross domestic product at the end of the third quarter. The Federation of Thai Industries' automotive group forecasts 2025 production at 1.5 million vehicles, with a
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