Mitsubishi Motors plans to invest an additional THB 16 billion (US$ 477 million) in Thailand by 2030 to support the country's transition towards electrified vehicles and strengthen its role as a regional production and export hub.

The investment was announced by Mitsubishi Motors Chairman and Chief Executive Officer Takao Kato during a courtesy visit to Thai Prime Minister Anutin Charnvirakul. The plan focuses on expanding the company's electric vehicle (EV) technology capabilities and transforming its existing operations in Thailand into a manufacturing and export base for electrified vehicles.

As part of the initiative, Mitsubishi is studying the production and export of pickup trucks, as well as an electric version of the Pajero sport utility vehicle (SUV), with Thailand serving as the production hub.

Thailand is one of the company's largest manufacturing and export bases outside Japan. The automaker has invested more than JPY 500 billion (US$ 3 billion) in the country and has exported more than five million Thailand-built vehicles, primarily to Southeast Asian markets.

The investment supports Thailand's long-term strategy of becoming a regional manufacturing hub for electric vehicles, with the government continuing to encourage investment in the sector.

Thai government spokesperson Lalida Perisvivatana said the new investment would be directed towards electric vehicle technology as the country's automotive industry continues its transition towards electrification.

Thailand, Southeast Asia's second-largest economy, is home to major automotive manufacturers, including Toyota, Honda, and China's BYD. According to a market research firm, the country has an established supplier base, export-oriented manufacturing infrastructure, and government policies that support electrified vehicle production.

At the same time, Japanese automakers are facing increasing competition from Chinese EV manufacturers, which have been expanding their market share in Thailand while investing in local production.

Earlier this year, Mitsubishi confirmed that the Pajero nameplate would return to international markets. The all-new cross-country SUV is scheduled to make its global debut in autumn 2026, marking the model's return to overseas markets for the first time since it was withdrawn in 2021.

Thailand has continued to attract investment from global vehicle manufacturers as it expands its EV ecosystem. In April, the Thai government approved investment proposals worth THB 15 billion from Isuzu Motors Thailand.

Isuzu is Thailand's second-largest vehicle manufacturer after Toyota, supported by its pickup truck operations and commercial vehicle business. The company produced nearly 172,000 vehicles in Thailand last year, with pickup trucks accounting for around 76% of total production.

Also in April, Chinese battery electric vehicle manufacturer Xpeng Group announced that it was exploring plans to establish a manufacturing facility in Thailand, although a final investment decision has yet to be announced.

Mitsubishi's latest investment adds to the list of automotive projects supporting Thailand's position as a regional production and export centre for electrified vehicles amid increasing competition and the ongoing transition towards vehicle electrification.