Japanese automakers to invest $4 billion in Thailand over 5 years

Japanese automotive giants are set to inject a total of 150 billion baht ($4.34 billion) into Thailand's economy over the forthcoming five-year period, as confirmed by a spokesperson for the Thai government on Monday. The investment commitments encompass significant contributions from leading Japanese automakers.

Specifically, Toyota Motor and Honda Motor are each set to channel approximately 50 billion baht into Thailand's automotive sector. Concurrently, Isuzu Motors has committed to an investment of 30 billion baht, while Mitsubishi Motors plans to allocate 20 billion baht towards their operations in the country. 

This announcement follows the recent conclusion of Thailand's Prime Minister Srettha Thavisin's official visit to Japan. The substantial investment from these prominent Japanese automotive companies underscores Thailand's position as a pivotal hub for the industry, benefiting from strategic collaborations and reinforcing bilateral economic ties between Japan and Thailand.

(With Reuters inputs)