Toyota, Mitsubishi vie for Thailand's car market

In a recent announcement, Toyota Thailand president Kyoichi Tanada said that it will pour in THB 8 billion (US$265 million) to boost the production of its Hilux Vigo truck and Fortuner utility vehicles, and increase the capacity from 140,000 units to 220,000 units per year.

Taking advantage of the government's decision to grow the car industry and also to meet the burgeoning demand in car ownership, another Japanese car manufacturer, Mitsubishi Motors, announced an investment of THB 16 billion (US$535 million) to build its Global Small car.

With a 1-1.2 litre fuel capacity, Global Small car will become one of Mitsubishi's core models as an entry-level car. It has also announced construction of a new factory with an initial capacity of 150,000 cars a year.

Thailand has been a significant production base and has seen Toyota flag off its 5 millionth car from its production base in Chachoengsao province.

On the other hand, Mitsubishi, which manufactures Lancer, Pajero Sport and Triton, will aim to manfacture electric cars for developed economies from its factories located in Laem Chabang Industrial Estate.

These initiatives while further promoting Thailand's car industry will also develop its expertise in developing its eco-car project that will help in reducing green gas emissions.