TAIPEI (Taiwan News) — Technology company Delta Electronics, Inc. said Wednesday (June 10) that it would increase investment in Thailand and India in order to diversify its production amid global trade wars.
Taiwanese corporations have sought to leave China in order to avoid tariffs on Chinese-made goods in the U.S., while the island nation's government launched a New Southbound Policy in 2016 to promote exchanges with countries in South and Southeast Asia, including Thailand and India.
Delta Electronics Chairman Yancey Hai (海英俊) remarked at a shareholders meeting Wednesday that despite last year’s trade wars, the company had still seen rising profits. In order to lower the risk of doing business, Delta bought a majority stake in its Thai affiliate in April 2019, CNA reported.
Diversifying its manufacturing and supplying local markets were the main motivations for the move, according to Hai. The group, based in Taipei City’s Neihu District, is active in the production of a wide range of electronics products, including industrial and computer fans, automation, and car components.