Ford, Lego invest heavily in Thailand, Vietnam

US car company Ford Motor and Danish toymaker Lego are planning to make substantial investments in Thailand and Vietnam, respectively, in the coming years in response to increased demand in Asia and to modernise their production facilities.

Ford said in a statement on December 8 that it would invest $900 million to upgrade its factories in Thailand to support the production of its Ranger pickup and Everest sport utility vehicle series, noting that it would be the carmaker’s largest single investment in the country so far.

The investment would be made into Ford’s own manufacturing plant and through AutoAlliance Thailand, the company’s joint venture with Japanese carmaker Mazda, Ford said.

Thailand is Asia’s fourth-largest auto assembly and export hub, featuring some of the world’s biggest auto brands such as Toyota, Honda, Isuzu, Mitsubishi, Nissan and BMW. The industry accounts for about ten percent of Thailand’s gross domestic product and manufacturing jobs. The expansion would add about 1,250 new jobs at Ford’s plants, while about $400 million of the investment would go towards its supply chain network, the statement said.

World largest toymaker to create 4,000 jobs in Vietnam

Meanwhile, Danish company Lego, the world’s largest toymaker by annual sales ahead of US peers Mattel and Hasbro, is planning to invest as much as $1 billion in a new factory in Vietnam, Financial Times reported on December 8.

The new facility is meant to meet raising demand for toys by the growing middle class in Southeast Asia and the broader region and to make the company’s supply chain more resilient following a series of shortages during the Covid-19 pandemic.

The factory will be built just outside Vietnam’s business hub Ho Chi Minh City, with construction starting in the second half of 2022 and production expected to commence by 2024. It will complement one facility in China, three in Europe and one in Mexico and create about 4,000 jobs over the next 15 years.

The company spent the past 18 months exploring locations in Southeast Asia and received a “very good deal” from Vietnam, the paper quoted Lego’s chief operating officer Carsten Rasmussen as saying, who also lauded the skillset of the country’s workforce, its favourable geographic location and openness for sustainability.



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US car company Ford Motor and Danish toymaker Lego are planning to make substantial investments in Thailand and Vietnam, respectively, in the coming years in response to increased demand in Asia and to modernise their production facilities. Ford said in a statement on December 8 that it would invest $900 million to upgrade its factories in Thailand to support the production of its Ranger pickup and Everest sport utility vehicle series, noting that it would be the carmaker’s largest single investment in the country so far. The investment would be made into Ford’s own manufacturing plant and through AutoAlliance Thailand,...

US car company Ford Motor and Danish toymaker Lego are planning to make substantial investments in Thailand and Vietnam, respectively, in the coming years in response to increased demand in Asia and to modernise their production facilities.

Ford said in a statement on December 8 that it would invest $900 million to upgrade its factories in Thailand to support the production of its Ranger pickup and Everest sport utility vehicle series, noting that it would be the carmaker’s largest single investment in the country so far.

The investment would be made into Ford’s own manufacturing plant and through AutoAlliance Thailand, the company’s joint venture with Japanese carmaker Mazda, Ford said.

Thailand is Asia’s fourth-largest auto assembly and export hub, featuring some of the world’s biggest auto brands such as Toyota, Honda, Isuzu, Mitsubishi, Nissan and BMW. The industry accounts for about ten percent of Thailand’s gross domestic product and manufacturing jobs. The expansion would add about 1,250 new jobs at Ford’s plants, while about $400 million of the investment would go towards its supply chain network, the statement said.

World largest toymaker to create 4,000 jobs in Vietnam

Meanwhile, Danish company Lego, the world’s largest toymaker by annual sales ahead of US peers Mattel and Hasbro, is planning to invest as much as $1 billion in a new factory in Vietnam, Financial Times reported on December 8.

The new facility is meant to meet raising demand for toys by the growing middle class in Southeast Asia and the broader region and to make the company’s supply chain more resilient following a series of shortages during the Covid-19 pandemic.

The factory will be built just outside Vietnam’s business hub Ho Chi Minh City, with construction starting in the second half of 2022 and production expected to commence by 2024. It will complement one facility in China, three in Europe and one in Mexico and create about 4,000 jobs over the next 15 years.

The company spent the past 18 months exploring locations in Southeast Asia and received a “very good deal” from Vietnam, the paper quoted Lego’s chief operating officer Carsten Rasmussen as saying, who also lauded the skillset of the country’s workforce, its favourable geographic location and openness for sustainability.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

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