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Thailand Automotive Industry

Automotive Industry
September 12, 2007
Toyota plans ‘eco car’ production
Toyota Motor Corp, the world's biggest automaker, plans to produce small, fuel-efficient cars at its Thai plant, a Thai executive said on Wednesday.

The company would submit its application for the project by the end of November, Ninnart Chaithirapinyo, vice chairman of Toyota Motor Thailand Co. Ltd, told reporters.

"Toyota should submit the application by November 30 as set by BOI," he said of the Board of Investment. "We are studying carefully which model will meet customer demand."

Toyota would use existing capacity at a plant to produce the new small cars and had not decided on how much it would spend on the project, he said. In June, the BOI approved investment privileges for the manufacturing of eco cars with a minimum investment of 5 billion baht and production of 400,000 over four years.

Excise tax on such cars would be cut by nearly half to 17 percent from October 2009 and manufacturers would get corporate income tax exemption for eight years and be allowed to import related machinery duty free. Reuters reports

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