Mitsubishi joins Thailand's eco-car project, Toyota submits application
The Thai government program involves giving tax breaks (a 50 percent cut in the excise tax, no income tax for 8 years and machinery imports duty free) to car makers to build eco-cars in their country, if they invest a significant amount in a plant. Thus far, the program has attracted Toyota, Honda, Suzuki, Nissan and even Ford is rumored to join the program. Honda has already invested 6,700 million baht (about $220 million US) in Thailand auto production facilities. Suzuki and Nissan are expected to invest 9,500 million baht ($313 million) and 5,550 million ($183 million). Thailand has also invited smaller car companies like Tata to make the air car in Thailand for a paltry $39M investment.
I guess this proves, finally, that big corporations like giant tax breaks.
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