BANGKOK, July 3 (UPI) -- Japan's Nissan Motor Corp. is set to invest more than $250 million in Siam Nissan Automobile Co. over the next five years in Thailand.
The Bangkok Post reported Saturday that Nissan's investment would help turn its Thai unit into a fully competitive car company with strong profits.
"Thailand offers us great potential for growth and given the right investment conditions, it could also present us with a strong base for exports to global markets," said Siam Nissan Automobile President Kosaku Hosokawa.
Siam Nissan became fully consolidated with Nissan Motors in April when the Japanese car compnay increased its Thai investment from 25 percent to 75 percent.
Hosokawa admitted that Siam Nissan's performance had been less than stellar, but to turn it around, Siam Nissan planed to enhance the existing vehicles and introduce 10 new models by 2008, which will cover all segments of the auto market.
