Toyota to invest $1.6 billion in Thailand to expand hybrid car production

Toyota Motor Chairman Akio Toyoda recently announced that he would invest 55 billion baht (about 1.6 billion U.S. dollars) in Thailand to expand the production of hybrid vehicles after meeting with Thai Prime Minister Paetongtarn Shinawatra at the Thai Government Building. The investment will be used to transform Thai factories to enable them to produce internal combustion engines and electric motors for hybrid vehicles. In addition, the investment will also bring jobs, technology and human resources to Thailand.