UPDATE: Chevrolet PH has released an official statement. Read it here (2/18).
Today is a sad day for Chevrolet. General Motors, the parent company of the bowtie brand said that they have put up their Rayong, Thailand manufacturing facility up for sale, and that they’re withdrawing altogether from the highly-competitive Thai domestic market by the end of the year.
This news comes at the heels of their decision to also wind down and retire the Holden brand in Australia and New Zealand by 2021.
In a formal announcement made today, GM says that it has managed to sign a binding term sheet with Great Wall Motors of China to purchase the Rayong vehicle manufacturing facility which currently makes the Trailblazer SUV and Colorado pickup truck.
“I’ve often said that we will do the right thing, even when it’s hard, and this is one of those times,” said GM Chairman and CEO Mary Barra. “We are restructuring our international operations, focusing on markets where we have the right strategies to drive robust returns, and prioritizing global investments that will drive growth in the future of mobility, especially in the areas of EVs and AVs.
“While these actions support our global strategy, we understand that they impact people who have contributed so much to our company. We will support our people, our customers and our partners, to ensure an orderly and respectful transition in the impacted markets.”
According to GM, they undertook a detailed analysis of the business case for future production at the Rayong manufacturing facility in Thailand. Low plant utilization and forecast volumes have made continued GM production at the site unsustainable. And without manufacturing, Chevrolet is unable compete in Thailand’s new-vehicle market.
GM has already sold its Talegaon manufacturing facility in India, made restructuring actions in South Korea, and pulled out of the Indonesian market altogether.
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