Toyota Motor Corp may reconsider investing up to $609 million in Thailand, and could even cut production, if political unrest drags on, the head of the Japanese automaker's local unit said on Monday. Toyota is the largest car manufacturer in Thailand, producing 800,000 vehicles a year. Plans to increase its annual c
Toyota Motor Corp may reconsider investing up to $609 million in Thailand, and could even cut production, if political unrest drags on, the head of the Japanese automaker's local unit said on Monday.
Toyota is the largest car manufacturer in Thailand, producing 800,000 vehicles a year. Plans to increase its annual capacity by 200,000 vehicles a year over the next 3 to 4 years are now uncertain. According to Kyoichi Tanada, president of Toyota's Thai unit, "our new investment in Thailand may not happen if the current political crisis goes on longer."
"For new foreign investors, the political situation may force them to look for opportunity elsewhere. For those that have already invested, like Toyota, we will not go away. But whether we will invest (further) or not, we are unsure."
Thailand is the biggest auto market in Southeast Asia and a regional vehicle production and export base for the world's top car manufacturers like Honda Motor and Ford Motor.