Honda to Invest US$58.8 million in Thai R&D Unit

Last week there were rumors that Honda might build Hybrid-technology-powered vehicles in Thailand. Honda has now confirmed the confidence they have in Thailand by committing a further 2.4 billion baht investment here.

Honda is to open an R&D unit in Thailand, creating 120 jobs and increasing their presence in the country. The facility will be responsible for the design and development of auto parts, and vehicles for the Asian, Australian and Indian market.

This is good news for Thailand, particularly since so much store is being placed in the auto industry. Last December Honda invested a further 850 million baht in expansion of their motorcycle R&D operation, and in May of this year Toyota opened an R&D facility in Thailand.

(Source: Asia Times Online)