Honda’s automobile production and sales joint venture company in Thailand, held a ceremony to mark the start of construction of its new automobile production plant. The ceremony was attended by Thailand Prime Minister Yingluck Shinawatra and Japanese Ambassador to Thailand Shigekazu Sato as a guest of honor, as well as Takanobu Ito, President & CEO of Honda.
With an investment of approximately 17.15 billion baht, including acquisition of the land and construction, the new plant is scheduled to become operational in 2015, with annual production capacity of 120,000 units and initial employment of approximately 1,200 associates (excluding seasonal).
HATC is planning to produce primarily small and sub-compact sized vehicles at the new plant, for which demand is increasing on a global basis.
Furthermore, HATC is planning to make an additional investment in its existing plant in Ayutthaya to further increase the plant’s annual production capacity from the current 280,000 units to 300,000 units in 2014, by extending the production line. Combined with the capacity of the new plant, HATC’s total annual production capacity will be increased to 420,000 units in 2015.
Honda’s automobile sales in Thailand for the fiscal year ended March 31, 2013 totaled 240,675 units, becoming the best-selling automobile brand in Thailand passenger car segment.