BANGKOK (AP) — Nissan Motor Co. says it is investing $358 million to build a new plant in Thailand to increase its production capacity and boost its growth in the Southeast Asian region.
The company's executive vice president, Hiroto Saikawa, said Friday the assembly facility will add 150,000 units of production capacity to the existing plant in Thailand.
Nissan expected to increase the number to 370,000 units per year once the new facility operates at full capacity. It is scheduled to start production in 2014.
Thailand is the largest manufacturing center in Southeast Asia for Nissan.
Saikawa said the investment will also add 2,000 new jobs to the Thai economy.
Nissan aims to increase its market share in Thailand to 15 percent by 2016, compared to about 9 percent in 2011.