Orient Precision Accelerates Electrification Transition…Aiming for 50% Sales Share

Orient Precision, a company specializing in electrification parts, is accelerating its transition to the electrification business.

Orient Precision announced on the 3rd that its eco-friendly vehicle parts sales have been growing by around 20% annually.

As the automobile industry is rapidly restructuring around electric vehicles and hybrid cars, the electrification parts market is also maintaining continuous growth. Accordingly, the role of parts manufacturers that possess both strong technological capabilities and stable production systems is becoming increasingly important.

Orient Precision is currently producing and supplying Shift-by-Wire (SBW) gear sets and differential assemblies applied to eco-friendly vehicle-exclusive platforms. These are core electrification components secured based on the company’s accumulated precision machining technology, die-casting manufacturing competitiveness, and quality control expertise built up through years of producing internal combustion engine vehicle parts.

From the second half of this year, the company expects eco-friendly vehicle parts sales to continue their strong growth trend, as its existing electrification parts will be applied to a broader range of vehicle models. In addition, eco-friendly vehicle gap fillers and battery-related parts are undergoing customer testing and mass production preparations, further strengthening the foundation for growth in the electrification parts business.

Orient Precision plans to expand the sales proportion of electrification parts, currently at about 10%, to approximately 50% within the next 2 to 3 years by commencing mass production of new parts and increasing production capacity (CAPA) as scheduled through early next year.

A representative from Orient Precision stated, "By expanding our production capacity and continuously developing technology, we will actively respond to the diverse needs of our customers and continuously increase the proportion of electrification parts, thereby solidifying our foundation for future growth."

This content was produced with the assistance of AI translation services.