Thai Auto Parts Industry Faces Challenges Amid EV Growth
Thai auto parts manufacturers are facing disruptions due to the rising popularity of electric vehicles or EVs. Tru Automotive is looking for new markets overseas where internal combustion engine vehicles are still in demand. The company expects Thailand's auto parts market to remain steady while partnering with ZF Group to increase sales through new campaigns.
Thai auto parts manufacturers, particularly those focused on components for internal combustion engine (ICE) vehicles, are facing challenges due to the rising popularity of electric vehicles (EVs).
Tru Automotive Co, a supplier under the brand TRW, highlights concerns about declining sales of ICE parts, as these components are not compatible with EVs. Pornsak Ariyapongpairoj, managing director of Tru Automotive, suggests that companies must explore overseas markets where ICE vehicles are still prevalent and governments are not aggressively promoting EVs. This strategy aligns with Thailand's 30@30 policy aimed at having EVs comprise 30% of total vehicle production by 2030.
Despite these challenges, the domestic market for auto parts is expected to maintain a value of 200 million baht this year.
Tru Automotive has partnered with ZF Group to enhance sales, particularly brake and suspension systems, through a promotional campaign named 'TRW x Transformers' aimed at boosting sales by 25%.
Meanwhile, ZF Group is exploring business opportunities in markets like India and Indonesia, where ICE vehicles remain popular.
Tru Automotive Co, a supplier under the brand TRW, highlights concerns about declining sales of ICE parts, as these components are not compatible with EVs. Pornsak Ariyapongpairoj, managing director of Tru Automotive, suggests that companies must explore overseas markets where ICE vehicles are still prevalent and governments are not aggressively promoting EVs. This strategy aligns with Thailand's 30@30 policy aimed at having EVs comprise 30% of total vehicle production by 2030.
Despite these challenges, the domestic market for auto parts is expected to maintain a value of 200 million baht this year.
Tru Automotive has partnered with ZF Group to enhance sales, particularly brake and suspension systems, through a promotional campaign named 'TRW x Transformers' aimed at boosting sales by 25%.
Meanwhile, ZF Group is exploring business opportunities in markets like India and Indonesia, where ICE vehicles remain popular.
