As per the latest statement from the State Board of Investment in Thailand, Toyota, Tata Motors and Mitsubishi have received approval in the country to build fuel efficient cars in Thailand.
Toyota will invest about 4.64 billion Baht to build around 100,000 cars in Thailand. Mitsubishi will invest about 3.7 billion Baht to build 107,000 cars annually of which 88 percent will be for exports.
The Indian car market is too good to ignore and Mitsubishi has not yet put in its complete efforts to woo the customers in India. Mitsubishi intends to introduce its Thailand built eco-car in the Indian market. Mitsubishi has tie-up with CK Birla Group’s Hindustan Motors to sells its cars in India. Mitsubishi may tune down the engine capacity and reduce the car size to avail the excise duty benefits in India.
Tata Motors will also invest around 7.3 billion Baht to produce 100,000 eco-cars in Thailand which will be sold in South East Asia including India plus South Africa.
