Contract Manufacturing of EVs in Thailand and Transition to Chinese OEM Production
First written in FY2022. 3 of 7 entries say "Advanced", first in FY2023-Q1. Latest entry: FY2024.
No other company in this theme has enough history to compare yet.
- FY2024DroppedAnnual reportThe specific measures relating to outsourced production in Thailand and the transition to Chinese OEM production are not directly stated in the medium- to long-term management strategy of this annual securities report, while the development of AI-related businesses is given prominence.
- FY2024-Q1RestatedAnnual report
「Production and sales volumes remained low relative to the plan due to production delays and other factors」
The situation in which EV production and sales volumes fall below plan due to production delays has continued to be reported in the current quarter. - FY2023RestatedAnnual report
「Going forward, the Company aims to achieve early OEM production in China and substantially reduce costs through cooperation or an alliance with a Chinese automobile manufacturer.」
The policy of transitioning to Chinese OEM production in parallel with outsourced production in Thailand and reducing costs has been reiterated as a future measure. - FY2023-Q3AdvancedAnnual report
「The Company began full-scale production of FOMM ONE in July 2022 and sales in September 2022. Going forward, it aims to increase EV production and sales volumes by focusing on marketing activities using social media such as Facebook to improve brand awareness, while also pursuing auto-loan initiatives, improving production-line efficiency and establishing an outsourced sales structure.」
Following the start of full-scale FOMM ONE production in Thailand, sales began in September 2022. Measures to expand production and sales, including improving production-line efficiency and establishing an outsourced sales structure, have also become more concrete. - FY2023-Q2AdvancedAnnual report
「A trial vehicle for FOMM ONE was completed on 21 June 2022, and full-scale production began on 11 July of the same year.」
FOMM ONE production in Thailand has progressed from the planning stage following completion of a prototype to the start of full-scale production on 11 July 2022. Preparations to transition to OEM production in China and elsewhere are also continuing. - FY2023-Q1AdvancedAnnual report
「On 29 March 2022, the Company signed an outsourced EV manufacturing agreement with FOMM in Thailand and began manufacturing FOMM ONE in April 2022. Transport delays resulting from China's COVID-19 measures caused delays in procuring some parts, but a trial vehicle (prototype) was completed in late June 2022. Full-scale production began in July 2022, and the Company planned to sell completed FOMM ONE vehicles in Thailand as they became available. In parallel, it was preparing to shift FOMM ONE to OEM production in China, where production costs are lower, to reduce manufacturing costs and improve margins, and was exploring a business alliance with a Chinese EV manufacturer, among other options.」
Outsourced FOMM ONE production in Thailand has begun, progressing to completion of a prototype and plans for full-scale production from July. In parallel, preparations to transition to low-cost OEM production in China and exploration of an alliance with a Chinese EV manufacturer are continuing. - FY2022First statedAnnual report
「The Company began outsourced production of FOMM ONE in Thailand in April 2022. In parallel, it is preparing to transition to OEM production in China, where production costs are lower, to reduce manufacturing costs and improve margins.」
The start of outsourced production in Thailand and preparations to transition to low-cost OEM production in China have been stated for the first time as the EV business's manufacturing strategy.