Shanghai (Gasgoo)- On July 10, 2024, Chinese new energy passenger vehicle powertrain solution provider INOVANCE Automotive hosted a ceremony to celebrate the beginning of volume production of its Thailand plant, according to a post on the supplier's official WeChat account. This milestone marks a significant breakthrough in INOVANCE Automotive's global strategy, laying a solid foundation for the company's future development while better supporting domestic clients' overseas expansion and serving local customers in Southeast Asia.
INOVANCE Automotive said it is adapting to the global trends of electrification and intelligentization in the automotive industry. Since 2016, the company has been expanding its overseas markets, gradually gaining recognition from numerous renowned automakers. Despite the challenges posed by the pandemic in 2022, the company steadfastly advanced the construction of its Hungarian plant. In 2023, INOVANCE Automotive achieved technological and capacity breakthroughs, successfully passing the ASPICE Level-3 assessment, with production of electric motor and electronic control products surpassing one million units and significant growth in overseas deliveries. The commencement of mass production at the Thailand plant in 2024 aims to deepen its presence in the Southeast Asian market and enhance its local service capabilities.
In terms of technological innovation, since 2016, the company has participated in Volkswagen's power source platform project. Over the past eight years, the company said it has continuously invested and made breakthroughs based on the diverse needs of different regions and clients, establishing comprehensive product development standards and capabilities in areas such as functional safety, network security, and high-voltage safety to meet the demands of overseas customers.
Following its breakthroughs in power source products overseas, the company aims to replicate these opportunities through continuous expansion. This involves duplicating project successes to further enlarge the power source product market and replicate business success with other clients, as well as broadening the product line from power source products to electric motors, electronic controls, and other areas.
By participating in over 10 global projects, INOVANCE Automotive has accumulated extensive experience in developing international platform products, enabling rapid development of localized products to meet the needs of overseas customers. This efficiency also aids domestic clients in their overseas ventures. The company revealed it has established eight major offices and four production bases across Europe and Asia, ensuring quick responses to global market demands.
INOVANCE Automotive has set up service centers in multiple global locations to ensure swift after-sales service responses. The company plans to further expand its service network. Domestically, it boasts a comprehensive after-sales service system, including offices, repair centers, spare parts warehouses, and contracted service stations. Internationally, it has established six major overseas service bases and plans to build three more. This robust global service network enables INOVANCE Automotive to efficiently guarantee after-sales support for exported vehicles, providing strong backing for domestic clients' rapid overseas expansion.
In promoting sustainable development for the entire society, the company plans to achieve 100% green electricity production at its Changzhou plant by 2025, reducing carbon emissions. Through collaborations with global car manufacturers, INOVANCE Automotive provides new energy powertrain solutions to global customers.
