Mitsubishi Motors to Invest $470 Million in Thailand EV Production and Export Hub

Mitsubishi Motors plans to invest an additional 16 billion Thai baht (approximately USD 470 million) in Thailand by 2030 to upgrade its existing local production base into a hub for manufacturing and exporting electrified vehicles. The plan was announced on July 24 by Takao Kato, Chairman and CEO of Mitsubishi Motors, during a meeting with Thailand’s Prime Minister. The investment will support research, development, and application of electric vehicle (EV) technologies, with a focus on producing and exporting the Pajero Sport SUV and pickup truck models. Thailand is one of Mitsubishi Motors’ largest production and export bases outside Japan. To date, the company has invested over 500 billion Japanese yen in the country and exported more than five million vehicles, primarily to Southeast Asian markets. In May this year, Mitsubishi announced that the Pajero nameplate would return to the global market, with a new off-road SUV continuing to carry the “Pajero” name. The model is scheduled to make its global debut in autumn 2026—marking its return to international markets five years after it was withdrawn from overseas sales in 2021. As Southeast Asia’s second-largest economy, Thailand boasts a well-established automotive parts supply chain and export-oriented manufacturing ecosystem. The government has introduced multiple policies to support the development of the EV industry, aiming to position the country as a regional EV manufacturing hub. This strategy has attracted investments from automakers including Toyota, Honda, and BYD. With Chinese EV brands rapidly gaining market share in Southeast Asia, Japanese automakers already established in Thailand are ramping up their investments to stay competitive. In April this year, the Thai government approved Isuzu Motors (Thailand)’s investment plan worth 15 billion baht.