BANGKOK, NNA –  Thailand’s Board of Investment recently announced that they have approved Mitsubishi’s 5.48 billion baht ($167 million) project to increase electric and hybrid vehicle production in the country. This focuses on renovating the existing production lines at a plant in Laem Chabang Industrial Estate, southeast of Bangkok.

The plan will enable the Japanese car giant Mitsubishi to manufacture 39,000 units annually to sell in Thailand and neighbouring S.E Asian countries.

The Board of Investment said Mitsubishi’s eco-car production is scheduled to start in 2023. Another initiative taken by the BOI in order to mitigate the impact on Thailand’s economy from the COVID-19 outbreak,

“In the face of the unprecedented situation resulting from the virus outbreak, we have taken a range of measures to address the urgent needs of affected business sectors,” the board quoted BOI Secretary General Duangjai Asawachintachit as saying at a press briefing on Monday.