Taiwan auto parts firms secure US$147M deals at Frankfurt trade expo

Taipei, Sept. 14 (CNA) Taiwanese auto parts and accessory makers secured US$147 million in business deals while participating in Automechanika Frankfurt held from Sept. 8 to 12, the Ministry of Economic Affairs (MOEA) said Monday.

In a statement, the MOEA said a total of 324 Taiwanese auto parts and accessory suppliers, including major manufacturers of car door handles, bumpers, metal components and automotive electronics, took part in the Frankfurt trade exhibition, demonstrating Taiwan's innovation and research and development capabilities at the Taiwan Pavilion.

The Taiwan Pavilion showcased Taiwan's comprehensive automotive parts supply chain and industrial strength through immersive concept cars and smart maintenance scenarios. It also featured a Digital Zone, business meeting and product display areas, and product launches aimed at connecting Taiwanese businesses with international buyers.

The MOEA said the five-day exhibition attracted 1,970 potential buyers and visitors to the Taiwan Pavilion and generated deals worth US$147 million.

In addition, the Taiwan Pavilion invited Aumovio, a German autonomous driving systems supplier, and the European Association of Automotive Suppliers (CLEPA) to hold a session on industry trends, discussing developments in the automotive industry and green solutions in response to the European Union's Carbon Border Adjustment Mechanism (CBAM).

The Taiwan Pavilion also promoted Taiwanese products through short videos produced by influencers and held a "Taiwan Night" on the exhibition's opening day, where 350 international buyers and representatives of automotive industry associations met with Taiwanese firms to exchange ideas and discuss cross-border cooperation, the MOEA said.

According to the MOEA, the EU is the second-largest buyer of Taiwan-made auto parts and accessories.

The ministry said that with the global auto industry accelerating its digital transformation and the European market emphasizing high-quality, innovative and sustainable products, Taiwan has expected great potential to cooperate with Europe on auto component and automotive electronics development as well as aftermarket services.

The MOEA added that the government will allocate funds from its budget to organize trade promotion delegations to attend international shows, while inviting potential foreign buyers to Taiwan to meet Taiwanese suppliers, strike deals and expand their reach overseas.