Nissan Motor Co., Ltd. today announced plans to invest $358M (11 billion baht) for a second assembly plant in Thailand. Scheduled to start production in August 2014, the new plant will support Nissan's growth strategy in the ASEAN region and will complement the existing Nissan Motor (Thailand) Co, Ltd. (NMT) facility. The new plant will have an initial annual production capacity of 75,000 units and will expand up to 150,000 units.

"The new facility will keep Thailand as our largest manufacturing center in the ASEAN region," said Hiroto Saikawa, executive vice president, Nissan Motor Co, Ltd. "This investment is an important component to achieve the goals of our corporate mid-term business plan, Nissan Power 88 - to increase market share and sustain business growth in this very important region.

Currently, Nissan has one assembly facility that produces passenger cars and pickup trucks in Thailand that is located on Bangna-Trat Road Km.21 in Samut Prakan province. The plant employs 6,000 people and has an annual production capacity of 220,000 units. The new plant will also be located on Bangna-Trad Road and will serve the growing demands for Nissan vehicles in both the domestic and regional markets.

"This investment is a key factor in achieving our target of 15 percent market share in Thailand by 2016, as outlined in our local mid-term business plan, Power Up 2016," said Takayuki Kimura, president, NMT. "Strengthening our operations here confirms Nissan's commitment to and confidence in the Thai market. I am also excited that this new plant will add 2,000 new jobs to the Thai economy."

Currently, Nissan Thailand exports the Navara to the Philippines; the upcoming Almera subcompact and possibly the Sylphy compact sedan will also be brought in from Thailand.