Mazda invests $150 million to boost electric SUV production in Thailand

Mazda Motor Corporation has announced a significant investment of 5 billion baht (approximately $150 million) in Thailand to establish the country as a manufacturing hub for its electrified compact sport utility vehicles (SUVs). The initiative aims to produce 100,000 units annually for both domestic sales and exports to markets including Japan and other ASEAN countries. This investment marks a strategic move towards enhancing Mazda's electric vehicle production capabilities amidst Thailand's automotive industry challenges, including a recent decline in domestic auto sales. The investment has been supported by Thailand's Board of Investment, which is promoting measures to facilitate the transition to electric vehicle manufacturing. Mazda's commitment highlights the opportunities in Thailand's automotive sector, which has seen substantial investments from various manufacturers, particularly in hybrid and electric technologies. The company’s move is also seen as a reaffirmation of its long-standing relationship with Thailand and its confidence in the country's manufacturing capabilities.