United States based automotive manufacturer Ford Motor Co. (F) will be making a capital injection of $900 million to modernize its plants in Thailand which build its Everest SUV and Ranger pickup truck.
This will go on record as the largest investment by the car manufacturer in the Asian country. This investment will go into upgrading the factories by doubling the number of robots in its Thai manufacturing plant and at AutoAlliance Thailand.
AutoAlliance Thailand is a partnership program Ford entered with Japanese automotive maker Mazda Motor Corp. (TYO: 7216). $400 million of the investment by Ford will be directed towards the supply chain network of AutoAlliance Thailand.
Additionally, Ford will be adding a second shift to its factory, this will result to creation of 1,250 job opportunities and this will bring the total number of the company’s labor force in Thailand to over 9,000.
This move seems to be the opposite of what the company has been doing in Brazil, Ford has shut down 3 of its factory in the South American nation this year. The company also pulled out of India where it had been struggling to make profits.