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Mitsubishi, Toyota, Tata to roll out 300,000 ‘eco-cars’


April 3, 2008

Mitsubishi, Toyota, Tata to roll out 300,000 ‘eco-cars’

Thailand's Board of Investment (BoI) granted tax privileges to three car makers -  Mitsubishi, Toyota and Tata - which will invest a combined 16.6 billion baht ($536 million) to produce more than 300,000 eco-cars for the domestic and export markets, Thai News Agency reported Wednesday.

According to the investment agency, Mitsubishi is spending 4.7 billion baht to produce 107,000 eco-cars in Thailand, 88 percent for export, while Toyota will invest 4.6 billion baht to make 100,000 units by 2012, 50 percent for export, and India's Tata Motor has pledged to invest 7.3 billion baht to make 100,000 units by 2010, of which 52 percent will be exported.

BoI’s Secretary General Sathit Chanchouwakul said the three companies will be ready to begin operations within two to four years. Previously, BoI approved similar eco-car investments worth 21.8 billion baht ($703 million) by Asian Honda Motors, Suzuki Motor and Siam Nissan Automobile, the local subsidiaries of Japanese auto multinationals Honda, Suzuki and Nissan, respectively.

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