Japanese carmaker Honda Motor will halt vehicle production at its factory in Ayutthaya province in Thailand by 2025 as it plans to consolidate its output in the plant it runs in Prachinburi province, the company said on Tuesday.
The move highlights the tougher conditions Japan’s second-biggest carmaker faces in the Southeast Asian nation as Chinese brands aggressively seek to gain market share in Thailand and consumer demand for electric vehicles (EVs) grows.
Honda has seen combined production at the two plants fall from 228,000 vehicles in 2019 to less than 150,000 a year for each of the…
