Thailand’s Board of Investment announced on Wednesday its approval of a $400 million investment by Continental, a leading tire manufacturer, to enhance its current plant situated in the WHA Industrial Estate Eastern Seaboard 4. The investment will involve the incorporation of new machinery imported from Germany.
Ranked as the world’s third-largest tire producer following Michelin and Bridgestone, Continental’s expansion in Thailand marks a significant development. Thailand, being the globe’s second largest hub for tire production and exports after China, accommodates notable manufacturers such as Michelin, Bridgestone, Sumitomo Rubber, Yokohama Tire, Goodyear, Zhongshe Rubber, Prinx Chengshan Tire, Linglong Tire, and Century Tire.
Having operated in Thailand for the past five years, Continental utilizes domestically sourced rubber and other materials to manufacture tires for various vehicles, including motorcycles, light trucks, passenger cars, and electric vehicles. This strategic move aligns with Thailand’s aim to attract investments from prominent electric vehicle brands, taking advantage of government incentives, subsidies, and its advantageous location within the regional supply chain.
The upcoming investment is projected to increase Continental’s tire production to 7.8 million units annually, generating 600 job opportunities and elevating the total workforce in Thailand to 1,500 employees. The BOI Secretary General, Narit Therdsteerasukdi, emphasized that this expansion underscores Thailand’s position as a core player in the automotive industry.
