Skip to main content
Best News Website or Mobile Service
 
WAN-IFRA Digital Media Awards Worldwide
Best News Website or Mobile Service
 
Digital Media Awards Worldwide
Hamburger Menu

Advertisement

Advertisement

Business

Ford invests US$900 million to modernise Thai auto plants

BANGKOK: Ford Motor Co is investing US$900 million to upgrade factories in Thailand that build its Ranger pickup truck and Everest SUV, its largest-ever investment in the country.

The plan includes a near doubling of the number of robots at its Thai manufacturing plant and at AutoAlliance Thailand, a venture with Mazda Motor Corp, while US$400 million of the investment will go towards its supply chain network.

It will also add a second shift to the Ford plant which will result in as many as 1,250 new jobs, bringing its workforce in Thailand to more than 9,000.

The move contrasts with the closures of three of its plants in Brazil this year, part of a US$11 billion global restructuring and its strategy to achieve 8per cent global operating margins. It is also pulling out of production in India where it has long struggled to make profit.

Thailand is Asia's fourth-largest auto assembly and export hub, accounting for about 10per cent of the country's GDP and manufacturing jobs.

Last year, General Motors sold its Thai factories to China's Great Wall Motor, which has begun producing SUVs and plans to make electric vehicles in the country.

Thailand's state-owned energy firm PTT Pcl has said it will invest US$1 billion to US$2 billion in an EV plant with Taiwan's Foxconn.

Source: Reuters
Categories

Advertisement

Also worth reading

Advertisement