Carmaker Stellantis Interested In Investing In Thailand - PM Srettha Thavisin

Stellantis is interested in investing in Thailand, Southeast Asia's largest car producer and exporter, Prime Minister Srettha Thavisin announced on Saturday.

In comments on social media platform X, Srettha said he also met with officials from other companies during a visit to France, hoping to attract investment to boost a faltering economy, which unexpectedly contracted in the fourth quarter of 2023.

"Stellantis is interested in investing in Thailand," Srettha said, adding that he had discussed mutual cooperation with the world's fourth-largest automaker, which owns brands like Fiat, Peugeot, and Citroen.

"Certainly, the government is ready to support it," he said, without providing further details.

Thailand announced on Friday that French tyre maker Michelin planned to invest an additional 300 million euros ($328 million) in the country.

Thailand, which also aspires to be the region's main electric vehicle production hub, has received investment commitments of more than US$1.4 billion from Chinese EV manufacturers to build production facilities.