Connect with us

Business

2,500 autoparts companies operate in Thailand

Around 2,500 domestic and international autoparts companies operate in Thailand

Avatar

Published

on

Thailand’s automotive companies, increasingly on the cutting edge of component technology, have turned their country into “Southeast Asia’s Detroit.”

Loading...

That would be last century’s Detroit. These days, the home to General Motors, Ford and Chrysler continues to struggle with debt, decay and crime. In Thailand, a new generation of engineers is taking up jobs that once went to the city known as Motown.     Thai Summit Autoparts Industry, the country’s largest autoparts maker, recently released a new line of autoparts that are 70% stronger than their predecessors.

 Around 2,500 domestic and international autoparts companies operate in Thailand

Around 2,500 domestic and international autoparts companies operate in Thailand

Other Thai manufacturers are landing orders for increasingly sophisticated components and products.     Just outside Bangkok, Summit’s main factory pumps out products that once could only have been made in Japan. A press bends steel with a force of 600 tons, turning out long, 80cm wide sheet. Car frames will later be made with the 1mm thick sheet, which is about 40% thinner than conventional auto steel.

Around 2,500 domestic and international autoparts companies operate in Thailand. “Tier One” companies that have direct dealings with non-Thai automakers account for only 20% of those operating in the country. If competition to reach the top tier intensifies, the Thai auto industry should become even stronger.

“Product quality and manufacturing techniques can be improved plenty,” said Yasuhiro Shido, executive vice president of Toyota Motor Asia Pacific Engineering & Manufacturing. He points out that sometimes there is a divergence between end products and blueprints.

via Thailand takes over from Detroit- Nikkei Asian Review.

Business

Thailand Approves Latest Economic Relief Package for Businesses

Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.

Avatar

Published

on

On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.

Loading...
(more…)

Continue Reading

Business

Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)

The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.

Avatar

Published

on

By

The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.

Loading...
(more…)

Continue Reading

Business

Asia-Pacific sees 3.9% growth in deal activity in February 2021

Boris Sullivan

Published

on

Chair’s Statement on the Informal ASEAN Ministerial Meeting (IAMM)

The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,072 other subscribers

Latest

Trending