CP: Thailand will be Detroit of Asia
โพสต์แล้ว: พฤหัสฯ. ธ.ค. 13, 2012 4:44 pm
CP, SAIC to make MG cars in Thailand
Published: 13/12/2012 at 04:00 PM Online news: Economics
CP Group and the Shanghai Automotive Industry Corp (SAIC) will jointly build well-known British-brand MG cars in Thailand for both domestic sale and export, Noppadol Chearavanont of CP Group said on Thursday.
SAIC is the largest car-maker in China and 7th largest in the world. CP's joint venture with the Chinese company would help Thailand become the Detroit of Asia, he said.
Mr Noppadol, chairman of CP Group’s Automotive Industry Group (China), said SAIC would hold a 51% stake in the Thai-Chinese car firm, and CP Group the remaining 49% of shares.
CP Group is now selecting the suitable site for production plant. It would be near Laem Chabang deep seaport, to make exports easier, he added.
The preliminary investment cost for the project would be around 10 billion baht, Mr Noppadol said. An additional 20 billion baht would be needed for the construction of an automobile research and development centre.
Mr Noppadol said the MG car production plant’s capacity was planned at 50,000 units a year for the first stage and output would increase to 200,000 units annually in the future.
He expected the debut of MG cars in Thailand’s market would be sometime in 2014.
SAIC bought the British MG brand in 2005 when the MG owner, Rover, collapsed.
Published: 13/12/2012 at 04:00 PM Online news: Economics
CP Group and the Shanghai Automotive Industry Corp (SAIC) will jointly build well-known British-brand MG cars in Thailand for both domestic sale and export, Noppadol Chearavanont of CP Group said on Thursday.
SAIC is the largest car-maker in China and 7th largest in the world. CP's joint venture with the Chinese company would help Thailand become the Detroit of Asia, he said.
Mr Noppadol, chairman of CP Group’s Automotive Industry Group (China), said SAIC would hold a 51% stake in the Thai-Chinese car firm, and CP Group the remaining 49% of shares.
CP Group is now selecting the suitable site for production plant. It would be near Laem Chabang deep seaport, to make exports easier, he added.
The preliminary investment cost for the project would be around 10 billion baht, Mr Noppadol said. An additional 20 billion baht would be needed for the construction of an automobile research and development centre.
Mr Noppadol said the MG car production plant’s capacity was planned at 50,000 units a year for the first stage and output would increase to 200,000 units annually in the future.
He expected the debut of MG cars in Thailand’s market would be sometime in 2014.
SAIC bought the British MG brand in 2005 when the MG owner, Rover, collapsed.