TOAVH has unfurled an ambitious blueprint to rake in a staggering 11 billion baht in revenue, forecasting a robust 5% growth trajectory. With a keen eye on reinventing itself as Thailand’s premier powder paint titan, the company is pouring a whopping 650 million baht to branch into verdant business sectors this year. They’re not just stopping there though, TOAVH is intent on revamping its car dealership enterprise while plunging headlong into the burgeoning electric vehicle (EV) market. They’ve struck deals with five influential Chinese brands to forge a sustainable, eco-conscious business footprint.
Leading the charge, Mr. Nattavuth Tangkaravakoon, the illustrious President of TOA Venture Holding Co., Ltd., outlined that 2024 is geared towards robust and sustainable business flourishing through the compelling ethos of “Healthy and Environmentally Friendly.” The company’s compass is fixed on churning out trailblazing innovations in production, cherry-picking products and services that prioritize consumer health and eco-responsibility, all while fulfilling the discerning tastes of Thai consumers.
To fuel these lofty ambitions, TOAVH is channeling its investment energies towards the green business sector, earmarking a 650-million-baht war chest, with funds allocated as follows:
Industrial Paint and Automotive Parts Business Group: TOA Performance Coking Corporation (TOAPC) is channeling 300 million baht to unwrap a spanking new powder coating factory sprawled over 10 rai within the Asia Industrial Estate (Suvarnabhumi). With an aspirational production start date pegged for 2026, this facility is set to churn out an initial 3,000 tonnes annually. Plus, an additional 130 million baht is earmarked for the Samut Prakan TOAPC plant, ushering in modern machinery to supercharge its capacity to 6,000 tonnes per year.
This ambitious expansion catapults TOAPC’s collective production capacity to a towering 9,000 tonnes per annum, crowning it Thailand’s most prodigious powder paint producer. As powder paint products wave the green flag by slashing volatile organic compounds (VOCs) and CO2 emissions by a hefty 40% compared to their oil-based counterparts, their demand is rising by a brisk 10% annually. TOAVH’s investment bolsters its standing as a vanguard in the flourishing powder paint arena.
Car Dealership Business Group: Primus Group Taking center stage is Primus Group, a cornerstone in TOAVH’s portfolio, stepping boldly into the EV market escapade, spotlighting cutting-edge, planetary-friendly car brands. They’ve extended a warm handshake to five eminent Chinese EV juggernauts: ZEEKR, DEEPAL, MG, OMODA&JAECOO, and AION, all celebrated for their prowess in product innovation and manufacturing wizardry. This strategic foray fortifies the company’s car dealership clout and stimulates enduring growth.
To amplify this move, TOAVH has injected 220 million baht for erecting a swanky new ZEEKR showroom and service hub along Ratchaphruek Road and sprucing up six showrooms, including the trailblazing MG Evolution showroom. These enhancements aim to underpin the expansion of the EV armada, eyeing a cumulative sales leap of 10% and a revenue surge of 7% this year. “Thailand’s EV market is riding a swift current of growth, with rising consumer intrigue mirroring heightened environmental consciousness,” Mr. Nattavuth noted. The uptake of BEV registrations skyrocketed by 17.4% in 2024, with a grand total of 200,109 vehicles in the books by August.
Mr. Nattavuth underscored that TOAVH’s green business ventures will empower its subsidiaries to keep pace with soaring market appetites, driving formidable growth and solidifying its business foundations. TOAVH sets its sights on amassing 11 billion baht in revenue this year, segmented into 40% from the industrial paint and automotive parts brigade (4.4 billion baht), 50% from the car dealership faction (5.5 billion baht), and 10% from other business domains (1.1 billion baht).
Wow, TOAVH is making a huge step towards sustainability! More companies should follow their example to reduce environmental impact.
Sure, but let’s not pretend they aren’t doing it for profit. Greenwashing is a huge issue these days.
Even if it’s profit-driven, the environmental benefits are real. Isn’t any step forward a good thing?
I agree with EcoWarrior99. Profit motivates innovation. As long as it helps the planet, I’m for it.
I wonder how ‘green’ these Chinese EV brands really are. Heard mixed things about their production standards.
The real question is whether Thai consumers will buy into these new brands. Loyalty to established manufacturers could be a hurdle.
Agreed. It’ll be interesting to see if the eco-angle trumps brand loyalty. TOAVH must focus on educating consumers.
Brand loyalty is strong, but the younger generation seems more open-minded and eco-conscious.
True, Larry. Perhaps the youth will lead the charge in this shift to sustainability.
Does anyone have insights into how the powder paint market will impact local economies in Thailand?
The local paint industry might suffer initially, but this could spur job creation and skill development long-term.
That’s a valid point, Eduardo. Hopefully, training and support will be available to ease the transition.
Not to mention the environmental benefits of powder paint. It’s a win-win in the bigger picture!
650 million baht is a massive investment. I hope it’s not just empty promises to look good on paper.
Corporate responsibility has its pitfalls, but let’s give them a chance. They’re already making strides.
Fair enough, Cheryl. Let’s hope the accountability measures are transparent and effective.
I think they seem committed. The scale of their investment suggests they’re serious about innovation.
I think TOAVH is going to outmaneuver other companies in Thailand because they are thinking ahead with green technology.
That’s probably true. Others will need to catch up or risk becoming obsolete.
It’s not just about who gets there first, but who does it best. Execution matters a lot.
TOAVH’s collaboration with Chinese brands is intriguing. Let’s hope they ensure quality control, given past issues with imports.
That’s a good point. If TOAVH can leverage quality and innovation, it could set a new standard for the industry.
Exactly, Anna. Quality assurance should be a top priority when dealing with international partners.
Are there any incentives for consumers to switch to these new EVs? Adoption won’t happen without support.
Government incentives or subsidies could encourage adoption. Otherwise, cost remains a significant barrier.
Indeed. Lower tax rates or rebates could entice consumers, reflecting a commitment to greener initiatives.
Ambitious goals are great, but TOAVH must engage properly with affected communities to ensure inclusive growth.
This is inspiring! But what about the charging infrastructure for EVs? That seems like a missing piece of the puzzle.
Good call! Investing in charging stations is crucial for practical EV use. Let’s see how TOAVH tackles this.
With TOAVH going green, will this lower the price of eco-friendly products, making them more accessible?
If production scales up efficiently, costs could reduce over time. Demand will play a big role too.
All this is good in theory, but what’s the impact on jobs in traditional car manufacturing? Will workers be retrained?
Retraining programs are essential. The shift to EVs should come with support systems for workers.