Isuzu factory relocation rumours hit Thai auto parts shares

[snoop1130]

 

A significant decline in the shares of Thai auto parts companies was observed today, following rumours that Japanese automaker Isuzu Motors intended to move its Thai factory to Indonesia. The Indonesian Industry Minister, Agus Gumiwang Kartasasmita, stated yesterday that Isuzu could potentially commence production in Indonesia as early as next year. However, Isuzu denied any such relocation plans today.

 

In the morning trade on the Stock Exchange of Thailand (SET), shares of AAPICO HiTech, an automotive parts manufacturer responsible for creating chassis frames for the Isuzu pick-up model, dropped by 12%, despite a market index gain of 0.11%. Additionally, Thai Stanley Electric, an auto lighting equipment manufacturer, experienced a 4% decrease in share price. The overall auto sector index in the country fell by 3.34%.

 

Thailand serves as a major auto production and export centre for Southeast Asia, housing prominent global producers such as Toyota and Honda. The Thai government has been working to preserve this status by offering incentives to attract investment in electric vehicle (EV) production.

 

By Alex Morgan

Top photo caption: Isuzu D-Max, Image via Wikipedia

 

Full Story: https://thethaiger.com/news/business/isuzu-factory-relocation-rumours-hit-thai-auto-parts-shares

 

-- © Copyright Thaiger 2023-06-08

 

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[webfact]

Japan’s Isuzu Says It Is Not Planning To Relocate Factory From Thailand To Indonesia
By Reuters – published by CNA and Jakarta Post

 

The logo of Isuzu is seen during the 87th International Motor Show at Palexpo in Geneva, Switzerland on March 8, 2017. File photo /Arnd Wiegmann and published by CNA

 

Tokyo –  Japanese truck maker Isuzu Motors today (June 8th) said it was not planning to move a factory from Thailand to Indonesia, a day after the Indonesian industry minister said the company would do so.

 

“While our company continues to focus on Indonesia as a major market, there are no plans to relocate a Thai factory to Indonesia,” an Isuzu spokesperson said.

 

The company had made no announcement on the issue, the spokesperson added.

 

Full story: https://thainewsroom.com/2023/06/08/japans-isuzu-says-it-is-not-planning-to-relocate-factory-from-thailand-to-indonesia/

 

-- © Copyright  THAI NEWSROOM 2023-06-09

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information.

[hotchilli]

2 hours ago, webfact said:

“While our company continues to focus on Indonesia as a major market, there are no plans to relocate a Thai factory to Indonesia,” an Isuzu spokesperson said.

So no expansion in Thailand... and possible new factories in Indonesia.

Sorted.

[Ralf001]

Izuzu aint shutting down its Thailand operations.

 

Expanding into other countries though... yeah many companies do this !!

[stratocaster]

Here is the  condensed story. In 2007 the Volvo Thailand truck business was taken over by Izuzu Truck division called  UD trucks. Litigation then followed as UD Thailand trucks is not a wholly owned Izuzu subsidiary but a joint venture. In 2013 the case was settled and production started at the Volvo factory of both Volvo trucks/bus and UD trucks/bus for local distribution. Volvo Thailand truck division have announced that they will start producing 1000 electric trucks annually, at the Thai factory for regional export. I would image that as they will need added capacity they will stop the UD truck manufacturing side at the Volvo factory. To make up for lost capacity  they will look to other UD truck factories to take up the slack. UD also have an agreement with Mitsubishi Fuso Thailand to assemble UD trucks.

PS

The market for Volvo and UD buses has totally collapsed due to the proliferation of Chinese made buses. Next time you drive Bangkok/Pattaya along highway 7 check out the manufacturers of the tour buses you pass.

[Burma Bill]

19 hours ago, snoop1130 said:

following rumours that Japanese automaker Isuzu Motors intended to move its Thai factory to Indonesia.

Pre-empting a coup/civil war??