Thailand’s largest automotive battery manufacturer, Siam GS Battery, gave an upbeat assessment about its business prospects for 2020, albeit with revenue expected to be flat at THB5bn (US$160m) this year.
Siam GS Battery, 60%-owned by Japan’s GS Yuasa and 40% by the local Siam Motors Group, has a production capacity of 4.5m automotive lead acid batteries per year at its plant in Bangpoo Industrial Estate in Samut Prakan, just outside Bangkok.
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Around 75% of this capacity is allocated to the local market, for sale mainly to vehicle manufacturers and the aftermarket.
The company estimated it held a 35% share of replacement battery sales in the country with 3K Battery and FB Battery its main competitors.
Assistant managing director Theerapong Kasemarnontana echoed the Federation of Thai Industries (FTI) forecast of a flat new vehicle market this year of just over 1m units and a further 1m exports.
Leading carmakers are, however, more bearish about the market outlook, including Toyota which expects a total industry volume decline of around 6-7%.
About 25% of Siam GS Battery output is exported to other markets in the region, including Japan.
Capacity at the Bangpoo plant will be increased to 5m units this year with the company looking to increase exports despite the strong baht and slowing regional economic growth.
