In a significant boost to Thailand’s electric vehicle (EV) ambitions, major Japanese auto manufacturers are set to invest a staggering 150 billion baht ($4.34 billion) in the country over the next five years. The move signals a robust commitment from automotive giants Toyota Motor, Honda Motor, Isuzu Motors, and Mitsubishi Motors to support Thailand’s transition towards producing electric vehicles. Each of the leading Japanese automakers is poised to make substantial investments, with Toyota and Honda contributing around 50 billion baht each, Isuzu Motors investing 30 billion baht, and Mitsubishi Motors committing 20 billion baht. This substantial financial infusion will not only fortify Thailand’s position as the largest car producer and exporter in Southeast Asia but also propel the country into a prominent role in the electric vehicle manufacturing landscape.
The investment, as announced by Thai government spokesperson Chai Wacharoke, includes the production of electric pickup trucks, reflecting a strategic move by these automakers to align with global trends in sustainable transportation. Thailand’s Prime Minister Srettha Thavisin, who recently concluded a visit to Japan, played a pivotal role in securing these investments. While Japanese manufacturers have long dominated Thailand’s auto sector, the influx of funds from these industry leaders will play a crucial role in supporting the government’s vision of transitioning from traditional combustion engine vehicles to environmentally friendly electric vehicles. As Thailand solidifies its stance as a key player in the electric vehicle market, the investment by these Japanese automotive powerhouses marks a significant milestone in the country’s automotive and environmental landscape.