TOKYO, June 8 (Reuters) – Japanese truck maker Isuzu Motors 7202.T on Thursday said it was not planning to move a factory from Thailand to Indonesia, a day after the Indonesian industry minister said the company would do so.
“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 issue, the spokesperson added.
Indonesian Industry Minister Agus Gumiwang Kartasasmita had said on Wednesday that Isuzu planned to move the factory and could start production as early as next year.
A ministry spokesperson on Thursday did not immediately respond to a request for comment on the denial from Isuzu, which already has a factory in Karawang, Indonesia.
Shares of some Thai auto parts companies sold off on Thursday after reports of the comment from the Indonesian industry minister.
Isuzu began building trucks in Thailand 60 years ago.
Isuzu already has a factory in Karawang, Indonesia.
Indonesia currently produces automobiles for several Japanese brands including Honda , Mitsubishi and Suzuki . It is also seeking to position itself as a centre for electric vehicle battery production, capitalising on its abundant raw materials.