Honda Motor Co. announced today that it has begun assembly Fit Hybrid models in Thailand.

Given the relatively high technology content in Honda’s Integrated Motor Assist technology, the Fit hybrids emerging from the plant in Ayutthaya, in central Thailand, are assembled using core components shipped from Japan. Honda says it plans to sell 10,000 locally assembled Fit Hybrids in Thailand priced at 768,00 baht ($24,328) each.

Like other Japanese automakers, Honda is actively looking to expand production capacity overseas, to lessen the impact of a strong yen or profit margins and to reduce vulnerability of its global supply chain in consideration of the Japanese earthquake and Tsunami last year.

Besides Thailand, Honda is also setting up assembly of the Fit Hybrid in Malaysia, with cars rolling off the Malacca line towards the end of this year (the company recently broke ground on a second assembly line at the facility which is scheduled to be in operation by the end of 2013). Last year, Honda ranked as the number one seller of hybrid vehicles in Malaysia, delivering 4,600 cars.