GM to invest $445m in Thai auto plants
Thursday, 14 August 2008
RAYONG, Thailand, Aug 13 (AFP): General Motors will invest 445 million dollars to build a new diesel engine plant and to upgrade an existing assembly plant in Thailand, chief executive Rick Wagoner said today.
The new plant in the industrial coastal town of Rayong will start production in 2010, with a capacity to produce more than 100,000 engines per year, he said.
About 90 per cent of the engines will be used in GM's nearby assembly plant, which will be upgraded to produce the new model Chevrolet Colorado small pickup truck, he added.
Wagoner said the investment was part of GM's global strategy, which includes growth in emerging markets like Thailand.
GM has struggled with a weakening US economy, losing the top spot in global sales to Japanese rival Toyota in the first quarter, while posting a 15.5- billion-dollar net loss in the second quarter.
The new plant in the industrial coastal town of Rayong will start production in 2010, with a capacity to produce more than 100,000 engines per year, he said.
About 90 per cent of the engines will be used in GM's nearby assembly plant, which will be upgraded to produce the new model Chevrolet Colorado small pickup truck, he added.
Wagoner said the investment was part of GM's global strategy, which includes growth in emerging markets like Thailand.
GM has struggled with a weakening US economy, losing the top spot in global sales to Japanese rival Toyota in the first quarter, while posting a 15.5- billion-dollar net loss in the second quarter.