In a statement Ford Motor Co said it would invest $900 million to modernize its factories in Thailand which produces its Ranger pickup and Everest SUV; the investment is the company’s single largest in the country.
The investment would be through its own manufacturing plant and AutoAlliance Thailand, its joint venture with Japan’s Mazda Corporation, said Ford.
Thailand is Asia’s fourth-biggest auto assembly and export hub, and is host to some of the world’s largest carmakers including Honda and Toyota. The auto industry accounts for around 10% of Thailand’s GDP and manufacturing jobs.
The new investment would add around 1,250 new jobs at Ford’s plants; Ford would spend around $400 million towards supply chain network.