Japanese carmaker Nissan Motor is planning to invest $358m to build a second assembly plant in Thailand with an initial annual production capacity of 75,000 units.
Production at the new plant is expeceted to start in 2014 and the capacity is expected to increase to 150,000 units in the future.
The company said that the new plant will support its growth strategy in the ASEAN region and will complement the existing Nissan Motor (Thailand) facility.
Nissan currently has one assembly plant in Samut Prakarn province in Thailand, which produces passenger cars and pickup trucks with an annual production capacity of 220,000 units.
When the second facility starts operations at full capacity, the automaker will have a combined production capacity of 370,000 units per annum.
Nissan Motor executive vice president Hiroto Saikawa said that the investment is an important component to achieve the goals of the company's corporate mid-term business plan, Nissan Power 88 - to increase market share and sustain business growth in the region.
"Adding 150,000 units of production capacity will not only enable us to raise our competitiveness in the domestic market, but will ensure Thailand's position as a key strategic global export hub for Nissan," Saikawa said.