Japan's Isuzu says no plans to relocate factory from Thailand to Indonesia
Reuters
Published Jun 08, 2023 03:13AM ET
Updated Jun 08, 2023 06:51AM ET
TOKYO (Reuters) - Japanese truck maker Isuzu Motors said on Thursday it was not planning to move a factory to Indonesia from Thailand, a day after the Indonesian industry minister signalled it would.
"While our company continues to focus on Indonesia as a major market, there are no plans to relocate a Thai factory to Indonesia," an Isuzu spokesperson said.
The company had made no announcement on the matter, the spokesperson added. Isuzu already has a factory in Karawang, Indonesia.
Indonesian Industry Minister Agus Gumiwang Kartasasmita said on Wednesday that Isuzu planned to move the factory and could start production as early as next year.
A senior industry ministry official maintained late on Thursday that Isuzu would be relocating its factory to Indonesia.
"Maybe they haven't really communicated it. But it's confirmed they want to relocate UD Truck (their truck factory)," Taufiek Bawazier, a director general at Indonesia's industry ministry, told reporters.
Shares of some Thai auto parts companies sold off on Thursday following the comment from the Indonesian industry minister.
Isuzu began building trucks in Thailand 60 years ago.
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Written By: Reuters
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