EV Powertrain & Power Electronics

Infineon Technologies Manufacturing (Thailand) opened a new plant in Samut Prakan province on October 1, 2026, with Prime Minister Anutin Charnvirakul presiding over the ceremony, joined by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas. The plant received investment promotion from the BOI with an investment value of over 48 billion baht, covering the production of power control chip systems, integrated circuit and wafer testing, as well as research and development of semiconductor products. The plant is Infineon's third power control chip system production base, following Germany and China, starting with phase 1 and with plans to expand up to 5 phases. If all 5 phases are completed, it will be Infineon's largest assembly and testing production base in the world, with a total cleanroom area of 150,000 square meters, roughly twice the size of the company's current largest plant. Infineon plans to employ more than 5,000 Thai personnel in total, or approximately 1,000 people per phase, while the BOI has set conditions requiring the development of more than 600 Thai personnel in science and technology and the sending of more than 130 Thai personnel for specialized technology training abroad.

Vishay Intertechnology introduced four new power modules featuring 650 V superjunction MOSFETs in the industry-standard SOT-227 package. The Vishay Semiconductors VS-FC50SA65, VS-FC100SA65, VS-FC150SA65, and VS-FC50LA65 are designed to deliver an optimized balance between conduction and switching losses for high efficiency power conversion in industrial applications. Three of the devices are in a single-switch configuration with nominal current ratings of 50 A, 100 A, and 150 A, while the fourth is a 50 A device in a low side chopper configuration that integrates a 650 V SiC diode. All four leverage the latest 650 V superjunction MOSFET technology to achieve a competitive tradeoff between on-resistance and gate charge, and they operate over a temperature range of -55 °C to +150 °C. The SOT-227 package provides a drop-in replacement for competing solutions, lowering costs by eliminating the need for PCB redesigns, and sample and production quantities are available now with lead times of 12 weeks.

Infineon Technologies AG officially inaugurated its new backend manufacturing site in Bangkok, Samut Prakan, together with Anutin Charnvirakul, Prime Minister of Thailand, and Alexander Gorski, Chief Operations Officer of Infineon Technologies. The greenfield facility is built for phased expansion and can scale up to five modules, giving Bangkok the potential to become one of Infineon's largest backend manufacturing sites over time; it currently employs around 350 people and is expected to grow to approximately 1,000 employees as the first building, Module A, ramps up. The site covers the full spectrum of semiconductor backend processes as well as wafer test, complementing the ongoing expansion of Infineon's frontend manufacturing capacities and serving automotive, industrial and energy infrastructure applications. The Bangkok site runs on 100 percent green electricity and incorporates water recycling, rainwater collection and on-site solar modules. Infineon had around 57,000 employees worldwide at the end of September 2025 and generated revenue of about €14.7 billion in its 2025 fiscal year.

United Nova Technology released its third-quarter earnings forecast on the evening of the 28th, expecting revenue of approximately 7.766 billion yuan for the first three quarters of 2026, up about 43.23% year on year, with net profit of approximately 681 million yuan, turning from a loss to a profit compared with the same period last year. In institutional research, the company said it had initiated price adjustments in the third quarter across all product categories including MOSFETs, IGBTs, silicon carbide, and analog chips, with an overall adjustment range of 15% to 25%. The price increases have now been fully implemented across all business segments, with an actual blended implementation rate of about 15%, and the revenue and gross margin elasticity from the price increases will begin to show in the third quarter and be released in the fourth quarter. On capacity, United Nova Technology's monthly production capacity for 8-inch silicon carbide wafers has reached 7,000 wafers, with plans to rapidly expand to 15,000 wafers per month. In addition, the company has fully completed its subscribed capital contribution to the joint venture United Nova Advanced, with cumulative paid-in registered capital of 2.129 billion yuan, and a 25.1% stake making it the largest shareholder. The funds are earmarked for the fourth-phase project of United Nova Advanced, which has a total investment of about 20 billion yuan and a capital base of 12 billion yuan, and is planned to build a 12-inch automotive-grade mixed-signal chip production line with monthly capacity of 50,000 wafers. CSC Financial said United Nova Technology has turned profitable and has moved from scale construction into a profit release channel.

The Board of Investment (BOI) disclosed that Infineon Technologies Manufacturing (Thailand) Co., Ltd. will officially open its new plant on October 1, 2026, in Samut Prakan province. The project has received BOI investment promotion worth more than 48 billion baht, covering Power Module production, semiconductor testing, and the establishment of the company's first large-scale semiconductor product research and development center in Thailand. This plant will be the world's third Power Module production base for Infineon Technologies AG, after Germany and China, to serve the electric vehicle, energy systems, and data center markets. The BOI has set conditions requiring the company to develop more than 600 Thai personnel in science and technology, comprising more than 400 production-line engineers and more than 200 research and development staff, along with sending more than 130 Thai personnel for specialized technology training abroad. The company also plans to cooperate with Thai universities to develop no fewer than 60 semiconductor courses, giving more than 1,100 undergraduate students the opportunity to join research and development training through 680 projects, and to conduct joint research with no fewer than 18 domestic universities and research institutes, as well as developing no fewer than 14 Thai entrepreneurs into the global semiconductor supply chain. It plans to spend no less than 2.8 billion baht on research and development in Thailand. Narit Therdsteerasukdi, Secretary-General of the BOI, said this investment reflects that Thailand is building a more complete semiconductor industrial base, in line with the national semiconductor strategy, which aims to attract no less than 500 billion baht in investment in the first five years and increase it to 2.5 trillion baht by 2050, while targeting industry revenue of more than 5 trillion baht per year and creating no fewer than 230,000 additional high-skilled jobs. Currently, Thailand has about 900 operators in the semiconductor and electronics industry, with more than 336,000 personnel. In the first half of 2026, Thailand exported about 1.6 trillion baht in semiconductor and electronic products, or roughly 26% of total exports. From 2023 to June 2026, there were a total of 879 applications for investment promotion in the semiconductor and advanced electronics group, worth more than 909 billion baht, while the printed circuit board industry had 224 promotion applications worth more than 331 billion baht during the same period.

The global electric vehicle Battery Management System Signal Transformer Market is projected to reach USD 2.19 billion by 2032, expanding at a compound annual growth rate of 17.77%, according to a Research and Markets forecast published on GlobeNewswire. The growth is driven by increasing adoption of high-voltage platforms and demand for faster charging technologies, as electric vehicles integrate larger battery packs and more advanced charging features. Artificial intelligence is also playing a crucial role in enhancing diagnostics and manufacturing processes within the ecosystem, though it must be balanced with rigorous safety and cybersecurity measures. In market moves, Vicor was a standout, up 19.8% and closing at $268.34, while Chroma ATE softened, down 4.9% to close at NT$2,320.00, and Tesla closed at $378.90, up 1%.

TD Cowen told clients on Tuesday that the recent sell-off in auto stocks over fears of Chinese automakers entering the US market is "overdone," as President Xi Jinping arrives in Washington for three days of talks with President Trump. Senior analyst Itay Michaeli wrote that a shift in US import policy at the summit is "very unlikely," though he urged investors to prepare for that eventuality anyway, noting that most industry contacts share that view. A coalition led by the Alliance for Automotive Innovation, joined by the American Automotive Policy Council, dealer group NADA, and supplier association MEMA, has urged the administration in a letter to Trump to "keep the door firmly shut to Chinese automakers seeking to sell, import, or manufacture vehicles inside the US," crediting Trump's 100% tariffs on Chinese vehicles and a Commerce Department rule barring Chinese connected-car software with shielding the US from the surge seen in Europe, Australia, Southeast Asia, Mexico, and South America. TD Cowen laid out likely guardrails for any Chinese entry, including minority-owned joint ventures with domestic players and a probable ban on building full-size trucks, and Michaeli argued such JVs "might even prove EPS accretive given sizable D3 EV losses," with Stellantis arguably having the most to gain given its lower North America EBIT starting point. The firm named EV suppliers and charging networks like ChargePoint and EVgo as beneficiaries of faster US EV adoption, and parts makers with existing ties to Chinese OEMs, including BorgWarner and Aptiv, as "better positioned" than most, while calling the math mixed for Tesla, Rivian, and Lucid.

Neo Performance Materials has moved its European permanent magnet plant into commercial production, now shipping rare earth sintered magnets to a Tier 1 electric vehicle traction motor customer. The shift from development to volume supply brings the company directly into the EV motor supply chain, with multiple awarded programs and multi-year visibility tied to vehicle platform lifecycles. Commissioning and expansion of the new European magnet facility, alongside government recognition and support, supports capacity growth from 2,000 to 5,000+ tons, enabling Neo to tap rising European EV and renewable energy demand. The stock last closed at CA$31.10, with a year-to-date share price return of 84.13% and a 1-year total shareholder return of 60.87%, though shares are down 10.73% over the last month and 12.00% over 90 days. The most followed narrative pegs fair value at CA$50.76, framing the magnet ramp as part of a bigger earnings and margin story, while the SWS DCF model estimates shares at CA$10.69, well below the current level.

Li Auto launched its six-seat flagship battery-electric SUV, the Li i9, on Sept. 16, 2026, with a starting price of RMB369,800 and deliveries beginning the same week. The model features an 800-volt 5C high-voltage charging platform, Li Auto's latest-generation proprietary electric motors and the company's MACH M100 chip. The launch came as Li Auto reported second-quarter 2026 deliveries of 98,330 vehicles, down 11.5% from 111,074 units a year earlier, with total revenues falling 15.1% year over year to RMB25.7 billion and vehicle sales down 16.7% to RMB24.1 billion. Vehicle margin fell to 9.4% from 19.4%, gross margin dropped to 11% from 20.1%, and the company swung to a net loss of RMB1.7 billion from net income of RMB1.1 billion a year earlier. Li Auto ended June with a cash position of RMB87.5 billion and plans approximately RMB6 billion in capital expenditures for 2026, including investments in its supercharging network, which had more than 4,100 stations and 22,800 charging stalls by the end of July.

Qualcomm is counting on automotive and data center growth to replace its shrinking Apple business, with the first hard test arriving in the December quarter when management expects its two custom data center wins to start producing revenue. Automotive sales rose 61% year over year in fiscal Q3 2026, and management raised its fiscal 2026 annual run-rate expectation from above $6 billion in April to about $7 billion by July, helped by BMW choosing Qualcomm as lead compute silicon provider for its next-generation ADAS and digital cockpit. Apple is leaving faster than planned, with Qualcomm now expecting its share of Apple's new iPhone launch to fall materially below the 20% it had assumed and forecasting Apple product revenue to drop about 50% from the September quarter to the December quarter. Management expects non-handset revenue growth over the prior year to jump from 24% in fiscal 2026 to more than 60% in fiscal 2027, growth it says will replace all of Apple's fiscal 2026 product revenue, and it sizes data center revenue at $5 billion in fiscal 2027 and $15 billion in fiscal 2029 inside a non-handset target of $40 billion by fiscal 2029. The doubt is execution, and the CEO concedes the data center business is just starting and that investors want proof a new entrant can deliver.

Galaxy Microelectronics announced that the company intends to invest 1.078 billion yuan using its own or self-raised funds to implement a high-end core device industrialization and innovation capability construction project. The project is a continuation of the company's previously disclosed first-phase plant construction project for a high-end integrated circuit discrete device industrialization base, mainly involving renovation, equipment procurement and installation, production line commissioning, and customer verification based on the first-phase plant. The products involved are power discrete devices and third-generation semiconductor devices that use advanced chip structures such as SGT/SJ, IGBT, and SiC/GaN, have passed high-reliability certifications such as AEC-Q101, and target high-barrier scenarios including new energy vehicles, energy storage, and industrial applications. They mainly include SGTMOS, super-junction MOS, IGBT and modules, SiC devices, IPM modules, and automotive-grade TVS/ESD, distinguishing them from traditional consumer-grade small-signal diodes and ordinary low-voltage planar devices.

Forgent Power Solutions reported fiscal fourth-quarter revenue of approximately $462 million on September 15, up 94% year over year, with bookings of $1.503 billion and backlog of $3.0 billion as of June 30, 2026. The company guided fiscal 2027 revenue to $2.4 billion to $2.6 billion, implying 76% growth at the midpoint. Fourth-quarter operating income reached $91.9 million versus $8.3 million a year earlier, and operating cash flow of $74 million exceeded $31 million of capital expenditures, though full-year fiscal 2026 operating cash flow of $109.1 million fell short of $115.9 million in property and equipment purchases. Forgent announced a $35 million expansion at its Tijuana campus for modular Powertrain Solutions, a category whose revenue rose 259% in fiscal 2026 and represented nearly one-third of fourth-quarter revenue; the project is expected to add approximately $800 million of annual revenue capacity, bringing total capacity to roughly $5.8 billion. Insider Monkey's database showed 74 hedge funds holding the stock at the end of 2Q2026, down from 76 three months earlier.

Subaru has entered a strategic collaboration with onsemi to evaluate its Embedded Power Platform, a step toward integrating next-generation power architectures into future electric vehicles. Under the partnership, Subaru gains early access to engineering samples and technical expertise as it assesses whether onsemi's power semiconductor integration can deliver scalable, efficient solutions for vehicle electrification. The two companies said the work will explore how a more integrated power system design can improve vehicle performance, efficiency and design flexibility as automakers expand their electrified lineups. The collaboration was announced by onsemi on GlobeNewswire.

New registrations of battery electric vehicles in Europe rose 54.2% year-on-year in August, accounting for roughly one in three new cars sold and far outpacing forecasts for 2026. According to data from E-Mobility Europe, New Automotive and Fierce Automotive, BEV registrations across 16 major European markets rose to 202,833 units, giving fully electric vehicles a market share of 30.5%. BEV registrations across Europe as a whole have exceeded 1.67 million units since the start of the year, up 33.1% from the same period a year earlier. T&E had forecast a BEV share of 23% in the EU this year, while Rho Motion expected around 21% for Europe as a whole, but BEV registrations in the 16 markets have risen 33.1% year-to-date, exceeding forecasts for the combined plug-in market of BEVs and plug-in hybrid vehicles. By country, France's BEV market share rose to 38.3% in August and Germany's to 32.5%, with fully electric registrations reaching 36,159 units in France and 68,980 units in Germany. Among Europe's most electrified markets, Norway led with a BEV share of 98.7%, followed by Denmark at 85.9%, Finland at 52.3%, the Netherlands at 48.9%, Belgium at 46.2% and Portugal at 36.1%.

onsemi unveiled its Embedded Power Platform, a wafer-level power solution that integrates silicon, silicon carbide and gallium nitride dies to deliver higher power density and system-level co-optimization for AI infrastructure and electrified vehicles, with sampling planned to begin in 2026. The company also announced a technology engagement giving Subaru early access to the platform, a move that highlights how closer co-design around compact, efficient power electronics could influence future electrified vehicle architectures and development timelines. The platform fits onsemi's push to move more of its portfolio into higher-margin, system-level power solutions, coming after Q2 2026 results showed a return to profitability following a large one-off loss, with management guiding Q3 revenue to US$1,650 million to US$1,750 million. The company's narrative projects $9.0 billion in revenue and $2.5 billion in earnings by 2029, requiring 13.0% yearly revenue growth and about a $1.9 billion earnings increase from $630.2 million today. Near-term risks remain, including underutilized fabs and dependence on a still cyclical auto market.

UBS has highlighted 10 industrial companies it sees as positioned for a broader capital-spending cycle, with manufacturing, transportation, defense and construction among the areas expected to gain from improving investment conditions. The list includes Lockheed Martin, United Airlines, C.H. Robinson Worldwide, BorgWarner, UL Solutions, Solstice Advanced Materials, Eaton, Advanced Drainage Systems, United Rentals and Packaging Corp. of America, according to a Wednesday report. UBS said the industrial sector is emerging from a prolonged manufacturing downturn, while inventory trends and short-cycle indicators have improved, and it pointed to stronger operating cash flow outside technology as a source of resources for investment. Among the individual companies, UBS assigned price targets ranging from $80 for Solstice Advanced Materials to $1,350 for United Rentals, with Advanced Drainage Systems carrying the largest implied upside at 62%, based on Sept. 11 closing prices. The bank cited potential catalysts including defense demand, airline earnings, freight productivity, electrification, construction activity and packaging pricing, while higher interest rates and weaker economic growth remain risks to the broader industrial outlook.

onsemi outlined a long-term growth strategy aimed at capturing a $213 billion total addressable market by 2030 across automotive, industrial, AI data center and emerging applications. The Scottsdale, Arizona-based chipmaker said power density has become the defining engineering constraint as AI, electrification and automation scale, and that it will leverage its power and sensing portfolio to address it. President and CEO Hassane El-Khoury said the company has spent years building expertise across power and sensing to help customers deliver more energy while consuming less space. onsemi highlighted three technology platforms it expects to drive growth: high-voltage technologies spanning silicon, silicon carbide and gallium nitride, including a differentiated vertical gallium nitride offering exclusive to the company; the Treo platform for high-precision analog, high-density digital and high-voltage intelligence; and the Embedded Power Platform, which uses the silicon wafer itself as the package to integrate silicon, SiC and GaN devices in a single wafer-level architecture. The company said the convergence of its end markets around common technology requirements allows it to deploy shared platforms across multiple applications and grow faster than the markets it serves.

Forgent Power Solutions guided to fiscal 2027 revenue of $2.4 billion to $2.6 billion and adjusted EBITDA of $575 million to $625 million, alongside adjusted EPS of $1.26 to $1.40 and an adjusted EBITDA margin of approximately 24%, up from 22.7% in fiscal 2026. The guidance accompanied record fiscal fourth-quarter results, with revenues up 94% to $462 million and adjusted EBITDA margin expanding 200 basis points sequentially to 24.4%. For the full fiscal year, revenues rose 89% to $1.42 billion and adjusted EBITDA rose 91% to $323 million, while operating cash flow increased roughly 2.5 times to $109 million from $45 million, with management expecting more than $300 million in fiscal 2027. Chief Executive Gary Niederpruem said the company booked more than $1.5 billion of orders in the quarter alone, leaving backlog at $3 billion, and announced an incremental investment to build a dedicated 385,000 square foot Powertrain Solutions facility on its Tijuana, Mexico campus, expected online in the fourth quarter of fiscal 2027. For the first quarter of fiscal 2027, Forgent guided to revenues of $445 million to $465 million and adjusted EBITDA of $90 million to $100 million, including approximately $10 million of one-time costs, and said it will stop reporting orders and backlog quarterly while providing rolling quarterly revenue and adjusted EBITDA guidance.

Bosch aims to double its heavy-duty commercial vehicle technology sales from today's more than 4 billion euros by 2035, Dr. Markus Heyn, deputy chairman of the Bosch board of management and chairman of the Mobility business sector, said at the IAA Show in Hannover. The company expects global truck production to grow moderately by about 1 percent to approximately 3.3 million trucks this year, then to 4 million units by the mid-2030s, and says the heavy-duty segment, vehicles weighing over six metric tons, is proving more resilient than an overall global vehicle production downturn expected in 2026. A major new order from long-time partner Daimler Truck for the eActros electric truck covers electric powertrain components manufactured in Europe, and Bosch says one in three newly registered electric trucks in Europe this year will be powered by its electric motor and inverter. Bosch also plans a new joint venture with Brakes India and Wheels India, two subsidiaries of the TSF Group, to develop smart actuators for compressed air generation, compressed air treatment, air suspension, and parking brakes. The company estimates that by 2030 about one in four newly registered heavy-duty trucks worldwide will be climate-friendly, rising to about half by 2035, while it continues to optimize conventional injection systems for standards such as Euro 7.

MAHLE has announced it will present sustainable drive solutions at IAA TRANSPORTATION 2026 in Hanover, Germany, from September 15 to 20, 2026, under the theme Electrified. Efficient. Economical. The highlight is a range extender system for electric trucks, an intelligent power generating unit that combines a generator, a combustion engine, thermal management, a fuel tank, an AdBlue tank and exhaust aftertreatment in a single unit. It can be installed directly into existing electric truck platforms. The system delivers 110 kW of continuous electrical power and 130 kW of peak power, can replace roughly one third of existing battery capacity, and cuts total vehicle weight by about 600 kilograms, allowing an electric truck to travel more than 800 kilometers, split between 400 kilometers on battery and 400 kilometers on the range extender. It also reduces carbon dioxide emissions by more than 80 percent, falling to nearly zero when used with the renewable fuel HVO100. In addition, MAHLE is presenting the MCT electric motor, short for MAHLE Contactless Transmitter, for heavy-duty truck drive axles for the first time in the world. It uses no permanent magnets, cutting rare earth usage by up to 3 kilograms per vehicle, delivers a peak output of 370 kW and more than 900 newton meters of torque, and achieves efficiency of up to 95 percent in testing under the VECTO standard, while reducing drivetrain weight by 10 kilograms. Arnd Franz, chairman of the MAHLE management board and chief executive officer, said the market wants electrified solutions that are both cost-effective and practical, and called on governments and policymakers to embrace technological diversity, including battery electric vehicles, hydrogen and renewable fuels. MAHLE currently partners with more than 120 commercial vehicle manufacturers worldwide and aims to grow its commercial vehicle business faster than the market over the next five years.

24/7 Wall St. rates Qualcomm a buy with a $239.79 price target, implying 35.45% upside from the current $176.88 quote, at 90% model confidence. The call rests on Qualcomm's Q3 FY26 revenue of $9.947 billion, which beat consensus, and automotive revenue that grew 61% year over year to $1.588 billion, its 23rd consecutive double-digit growth quarter, even as non-GAAP EPS of $2.21 narrowly missed on memory and wafer input costs. Momentum accelerated after Qualcomm issued warrants to Amazon to acquire $4 billion worth of the chipmaker's stock as part of an AI infrastructure deal, and CEO Cristiano Amon has committed to more than $24 billion in revenue across automotive and IoT plus more than $15 billion in data center by fiscal 2029, nearly doubling the prior target. The bear case lands near $200.49, with handset revenue down 20% in the third quarter and management expecting roughly a 50% decline in Apple revenue from the September to December quarter, while memory and wafer inflation compressed operating income by 41.13% year over year. Broadcom, the aspirational benchmark, posted $29.591 billion in Q3 FY26 revenue with AI semiconductor sales of $16.7 billion, up 221% year over year, and carries a $1.72 trillion market cap versus Qualcomm's $188.9 billion.

Asia Plus Securities stated that August 2026 sales at DELTA Taiwan, the parent company of DELTA, came in at 64 billion Taiwan dollars, down 4% month-on-month but still up 35% year-on-year, and above the 2Q26 average of 61 billion Taiwan dollars. As a result, combined sales for the first two months of the third quarter, July 2026 through August 2026, reached 130 billion Taiwan dollars, or 41% growth year-on-year. Although parent company sales declined, DELTA's own sales in the same period do not necessarily have to fall in tandem, because parent company sales reflect the entire group including subsidiaries worldwide, which have different timing for production, product delivery, and revenue recognition. However, DELTA Thailand's sales tend to move in the same direction as the parent company, with a correlation of roughly 96%. The research team therefore expects DELTA's July 2026 to August 2026 sales to still grow better than in 2Q26, just like the parent company. In addition, the raw material shortage problems that arose in 2Q26 began to ease from July 2026. Overall, the research team views that DELTA's 3Q26 sales will grow both quarter-on-quarter and year-on-year, while margins should improve quarter-on-quarter and royalty payments as a share of sales will decline quarter-on-quarter, as products manufactured under DELTA's own technology are expected to account for a higher proportion in the second half of 2026, pushing 3Q26 profit to its highest point of the year. The research team also estimates normal profit for 2026 to 2027 at 35 to 49 billion baht, or average annual growth of 42%, and maintains its Buy recommendation, believing profit has already passed its low point for the year in 2Q26 and that second-half 2026 profit will be better than the first half. It sets a target price of 342.00 baht.

The Board of Investment (BOI) has revealed that Japan remains a key investment partner for Thailand. In 2025, Japanese investors applied for investment promotion for 302 projects with a total value exceeding 113.7 billion baht, more than doubling from the previous year. In the first half of 2026, there were 123 projects worth 32.79 billion baht, reflecting that Thailand remains an important investment base for Japan, particularly for investments aimed at upgrading technology and increasing production efficiency to support the transition of global industries. BOI Secretary-General Narit Therdsteerasukdi stated that Japanese investment is entering a new cycle, building on existing production bases to develop high-value products. For instance, Isuzu is investing over 15 billion baht to upgrade its pickup truck production base, Mazda is investing 7.4 billion baht to produce new hybrid models, Mitsubishi has announced an additional investment of 16 billion baht by 2030, and Honda plans to invest 12 billion baht by 2029 to produce two new car models. This makes Thailand the only country outside Japan to produce a total of eight car models. Meanwhile, the automotive supply chain is shifting towards EV and hybrid components, such as Astemo investing 3.5 billion baht to produce PCU inverters and Aisin investing in hybrid transmission systems. The electronics sector is also expanding into advanced components, with Murata producing MLCCs and Panasonic producing upstream materials for circuit boards. The new factory will be the first production base for MEGTRON materials in ASEAN to support AI. Additionally, there are investments in aviation and agri-food, such as NMB-Minebea investing over 2.6 billion baht to open an aircraft parts factory in Lopburi, and Toyo Saikan investing 2.47 billion baht to produce plant-based beverages. A survey by the Japanese Chamber of Commerce (JCC) indicates that 23% of Japanese companies plan to increase their investment in Thailand in 2026, while 48% will maintain their current investment levels. The BOI also supports the establishment of regional offices in Thailand, with over 40% currently coming from Japan.