Honda Motor Co., Ltd. (NYSE:HMC) disclosed that it will reportedly cease vehicle production at its Ayutthaya province factory in Thailand by 2025. The move reflects the company’s intention to consolidate production at its plant in Prachinburi province, reported Reuters. This reflects the challenging environment for Japan’s second-largest automaker in Thailand, where Chinese brands are aggressively competing for market share alongside rising consumer demand for electric vehicles. According to the report, Honda intends to transition its Ayutthaya plant, inaugurated in 1996, from vehicle production to car part manufacturing after next year. Honda will centralize vehicle production at its Prachinburi plant, which began operations in 2016, the spokesperson confirmed. These ...