Stellantis expresses interest in investing in Thailand: Prime Minister Srettha Thavisin

Stellantis Thailand investment: Thailand Prime Minister Srettha Thavisin said on Saturday, March 9, 2024, that European automotive giant Stellantis has shown keen interest in investing in Thailand, the leading car producer and exporter in Southeast Asia.

During his recent visit to France, Prime Minister Srettha engaged in discussions with officials from various companies to attract investments aimed at revitalising the country's economy, which unexpectedly contracted in the last quarter of 2023.

"Stellantis is interested in investing in Thailand," stated Srettha via the social media platform X, indicating fruitful talks with the world's fourth-largest automaker, renowned for its ownership of brands like Fiat, Peugeot, and Citroen.

Srettha emphasised the government's readiness to extend support for such endeavors, although specific details were not disclosed.

This announcement follows Thailand's recent declaration that French tire manufacturer Michelin intends to inject an additional 300 million euros ($328 million) into the country's economy.

Thailand's aspirations to become a prominent electric vehicle (EV) production centre in the region have garnered substantial attention. The country has secured investment commitments exceeding $1.4 billion from Chinese EV manufacturers for the establishment of production facilities.

(With Reuters inputs.)