BANGKOK (Kyodo) Mitsuoka Motor Co. said has reached an agreement with Thai car sales firm Yontrakit to establish a joint venture to produce its handmade cars in Thailand.
Mitsuoka President Akio Mitsuoka said at a news conference Wednesday in Bangkok that the joint venture will begin producing the Himiko convertible and the Galue sedan in October for possible marketing not only in Thailand but also in Malaysia and Singapore starting in December.
A free-trade agreement took effect this year to abolish auto tariffs among major members of the Association of Southeast Asian Nations.
"We will be able to market our handmade cars at affordable prices," Mitsuoka said. In Thailand, Mitsuoka's cars are expected to be priced at 3.2 million to 3.7 million baht (about ¥8.6 million to ¥10 million). Mitsuoka also plans to sell the Viewt small car next year with production of 170 to 180 units a year.