As global auto parts industry suffers, Taiwan companies offer production support

Press ReleaseAs global auto parts industry suffers, Taiwan companies offer production support


Rajkot : The global auto industry is preparing for supply-chain problems after the coronavirus outbreak is starting to hit production in markets across the world. The production of automobiles and automobile parts/accessories has been greatly affected in many countries.

The healthcare situation in China may disrupt supply of components to vehicle makers in India, too.The Indian auto industry is highly dependent on Chinese parts, with about 27% of the roughly US$17.5 billion worth of component imports into India coming from China.

At difficult times like these, Taiwanese businesses are gearing to assist countries by becoming foreign suppliers. Taiwan’s well-known manufacturing forte, coupled with the country’s unprecedented IT and communications industries, self-driving vehicles, smart charging stations, smart parking systems and other solutions, has created a plethora of business opportunities. What makes its auto part and accessory industry stand apart is its powerful quality and flexible production lines.

In this situation, countries like India and others can look to alternate suppliers like Taiwan that is presenting prospects. Also, at a time when the global electric vehicles market is growing swiftly, with the number of global electric vehicles (EV) predicted to reach 130 million units in the next decade, Taiwanese businesses are geared up to fulfil demands of the global auto partsand accessory businesses among EVs as well.

Some of its innovative initiatives related to the auto industry will be displayed at the Taipei AMPA and Autotronics Taipei to be held from Oct. 21-24 in Taipei. Besides Taiwan Excellence Award-winning products and brands, Taiwan boasts many prominent companies that are significant in the field, including DEPO, TYC, Eagle Eyes, Kenda, etc.

Mark Wu, Executive Director of TAITRA’s Strategic Marketing Department said,“The global auto industry is currently facing a gap in meeting its demand for auto parts and accessories due to the healthcare situation in China. Taiwan can step to plug in this gap to fulfil the needs of the global auto part and accessory businesses. Countries like India can leverage the business potential of Taiwan’s industry supply chain.”

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