Thai auto parts makers pivot to medical devices amid EV shift

[snoop1130]

 

The Federation of Thai Industries (FTI) plans to present a proposal to the government this month aimed at bolstering the local medical device business. This initiative seeks to assist auto parts manufacturers in diversifying their operations amid the vehicle industry’s transition to electric vehicle (EV) technology.

 

The shift in the industry provides an opportunity for auto parts makers, particularly those accustomed to working with internal combustion engines, to pivot their business models.

 

FTI Vice-Chairman Isares Rattanadilok Na Phuket explained that discussions are underway among FTI members to support parts manufacturers who are interested in entering the medical device sector.

 

“We are discussing among FTI members a plan to help parts makers who want to transform their business and enter the medical device industry.”

 

Under FTI’s new unit, Mobility-ONE, a cluster named CFM-ONE sees potential for auto parts producers to transition into manufacturing medical products. These include single-use devices such as diagnostic test kits and durable items like wheelchairs and hospital beds.

 

Established last year, CFM-ONE aims to support the development of Thailand’s automotive industry and help companies navigate sectoral challenges. According to Isares, this new unit could assist automakers in the shift towards the medical device industry.

 

 

“CFM-ONE will discuss with the government the plan to better promote the medical device industry, aiming to make new popular products for the country.”

 

The FTI also urges public health agencies to increase their procurement of locally produced medical devices, which are not widely recognised in hospitals. Isares highlighted the difficulty in selling medical products to hospitals and wellness businesses that are hesitant to trust products made by local companies.

 

Currently, Thailand imports approximately 90% of its medical devices, while only 10% are produced domestically. Isares urges for medical technology development in Thailand.

 

“Thailand needs to develop its own medical products as well as improve technology to support the local medical device industry.”

 

CFM-ONE previously stated it would collaborate with global car manufacturers to aid local auto parts makers in continuing within the automotive industry by shifting their focus to producing parts for EVs, reported Bangkok Post.

 

By Ryan Turner

Image courtesy of VCG/Global Times

 

Source: The Thaiger 2024-07-12

 

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[hotchilli]

15 hours ago, snoop1130 said:

“We are discussing among FTI members a plan to help parts makers who want to transform their business and enter the medical device industry.”

Help with what... the costs involved in ripping out all the old infrastruture and setting up new machines etc

plus the training of staff needed to switch to a new production method?

[john donson]

why not space exploration or moon harvesting equipment

[Burma Bill]

On 7/12/2024 at 3:15 PM, snoop1130 said:

opportunity for auto parts makers, particularly those accustomed to working with internal combustion engines, to pivot their business models.