Mitsubishi to close Thai factory

BANGKOK: Mitsubishi will close a Thailand factory set up to build pickup trucks specifically for the Thai market and will move the domestic-bound output to another facility making trucks for export.

Currency instability and economic retreat have shrunk Thailand's auto market, leaving the maker to try to stay competitive by making such changes to its local manufacturing.

Japanese-aligned automakers in the country have taken steps such as reducing working hours, but Mitsubishi is the first to shut down a plant permanently and is also looking at the possibility of closing a car factory.

The pickup plant subject to the current closing is located in Bangkok. The factory has been closed more than half of the time recently.