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Ford to broaden, modernize Thailand plant with $900 million funding

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BANGKOK — Ford Motor Co. is investing $900 million to improve factories in Thailand that construct its Ranger pickup truck and Everest utility automobile.

Ford, making its largest-ever funding within the operations, plans to almost double the variety of robots at its Thai manufacturing plant and at AutoAlliance Thailand, a enterprise with Mazda Motor Corp., whereas $400 million of the funding will go in direction of its provide chain community.

It would additionally add a second shift to the Ford plant which can createt as many as 1,250 jobs, bringing its workforce in Thailand to greater than 9,000.

In Thailand, Ford stated it is ready to produce round 270,000 automobiles yearly.

About 60 % is exported Asia-Pacific markets like Australia, New Zealand and the Philippines the place its pickup vehicles are in style.

“If demand will increase sooner or later, the proportion is adjusted on a month-to-month foundation,” a Ford spokeswoman stated, including that its export market is strong.

The manufacturing unit upgrades will permit the corporate to raised customise manufacturing for automobiles resembling open cabs and four-door pickups to match demand.

The transfer contrasts with the closures of three of its crops in Brazil this yr, a part of a $11 billion world restructuring and its technique to realize 8 % world working margins. It’s also pulling out of manufacturing in India the place it has lengthy struggled to make revenue.

Thailand is Asia’s fourth-largest auto meeting and export hub, accounting for about 10 % of the nation’s GDP and manufacturing jobs.

Final yr, Basic Motors offered its Thai factories to China’s Nice Wall Motor, which has begun producing utility automobiles and plans to make EVs within the nation.

Thailand’s state-owned power agency PTT has stated it’ll make investments $1 billion to $2 billion in an EV plant with Taiwan’s Foxconn.

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