August 13, 2008
Bangkok - General Motors plans to build its new diesel engine plant and upgrade its existing assembly plant in Thailand at the cost of 445 million dollars.
The new plant in Rayong will begin production in 2010, with a capacity to produce more than 100,000 engines per year.
About 90 percent of the engines will be used at GM's nearby assembly plant which will be upgraded to assemble the new model Chevrolet Colorado small pickup truck.
The investment is part of GM’s global strategy focusing on emerging markets like Thailand.
GM has already been beaten by its Japanese rival Toyota in the United States market in the first quarter.
Its net loss was 15.5 billion dollars in the second quarter.
GM CEO Rick Wagoner refused to say whether its annual sales would fall second to Toyota here or not.
Thailand is the world's leading producer of one-tonne pickups.
