Latest news with #OE
Bangkok Post
6 days ago
- Automotive
- Bangkok Post
Pirelli Launches New Office and Logistics Hub
Bangkok, 14 July 2025 – Pirelli Tyre (Thailand) Limited celebrated the official opening of its new office and logistics hub in Bangkok, Thailand. This milestone marks a significant step in the Group's strategy to strengthen its presence in ASEAN, where Pirelli already has a strong commercial footprint, underscoring its long-term commitment to the Asia-Pacific region. As a pure consumer tyre company, Pirelli will focus on developing its passenger car and motorcycle businesses, as well as reinforcing its brand in Thailand. In addition to decisively strengthening well-established partnerships with key Motorcycle Original Equipment (OE) manufacturers, the opening of the new local logistics hub in Bangkok will bolster Car OE collaborations and its motorsport business. This will further enhance Pirelli's capabilities across key mobility sectors, reaffirming its commitment to delivering premium solutions tailored to regional market needs. The opening event was held at One Bangkok Tower, with the participation of Mr Andrea Conti, Deputy Head of Mission of the Embassy of Italy in Thailand; Mr Giacomo Iobizzi, Secretary-General of the Italian Chamber of Commerce; alongside Mr Andrea Maganzani, Pirelli APAC CEO; Mr Ting Chen, Managing Director of Pirelli Asia Pte Ltd; and Mr Leonardo Saccioni, Managing Director of Pirelli Thailand. 'The opening of Thailand's new office and logistics hub is more than a milestone – it's a reaffirmation of Pirelli's commitment to Southeast Asia,' said Mr Maganzani. 'By strengthening our presence here, we aim to offer better support to Thailand's consumers and partners, while enhancing strategic collaborations with leading retailers and manufacturers.' Pirelli's presence in Thailand is already well established through strong relationships with leading retail chains and car dealers. In the motorcycle segment, Pirelli supplies renowned OEMs such as Triumph, Ducati, Royal Enfield, Honda, and BMW. The new facilities will serve as a local base for direct engagement with partners, enabling Pirelli to respond swiftly to market demands and drive future growth across Thailand's dynamic automotive landscape.
Yahoo
14-07-2025
- Automotive
- Yahoo
DRiV™ Expands Aftermarket Offering in Asia Pacific with New FP DIESEL and Wagner Product Lines
Newly launched starters, alternators, turbochargers and air conditioning compressors bring OE-quality solutions to independent shop and vehicle owners across the region SHANGHAI, July 14, 2025 (GLOBE NEWSWIRE) -- DRiV™, a leading global player in the automotive aftermarket, is reinforcing its commitment to the Asia Pacific automotive aftermarket with the launch of three new product lines: FP DIESEL™ starters and alternators, FP DIESEL™ turbochargers, and Wagner® HVAC components, beginning with air conditioning compressors. This strategic expansion reflects DRiV's mission to provide independent workshops, distributors, and vehicle owners with a comprehensive portfolio of OE-quality parts and trusted service solutions. 'This product launch represents our continued investment in the Asia Pacific region and our commitment to delivering high-quality, high-coverage solutions to meet the evolving needs of our customers,' said DRiV's Liu Ningjun, vice president and general manager, Asia Pacific. 'By expanding our portfolio with these new lines, we're helping workshops and distributors grow their businesses with confidence, backed by globally trusted brands and proven technologies.' All three product lines are engineered to meet rigorous OE specifications and tested for performance, durability, and reliability in demanding conditions. FP DIESEL Starters and Alternators – Built with OE-grade components and advanced engineering processes ensure reliable starts and stable power output. Designed for a wide range of commercial applications, including major European and Asian truck and bus platforms such as Volvo, MAN, Scania, Hino and Isuzu. FP DIESEL Turbochargers – Developed for heavy-duty truck applications, these turbochargers deliver OE-level performance and durability with compatibility across leading engine platforms such as Cummins and Detroit Diesel. Future expansions will include off-highway applications such as construction and industrial equipment. Wagner HVAC Compressors – The first offering in Wagner's new HVAC product line for Asia Pacific, these compressors are designed for a precise fit, efficient cooling and stable performance across a wide variety of vehicle models. This launch marks the debut of these product lines in the Asia Pacific region. The initial range is expected to provide approximately 70 percent vehicle coverage across Southeast Asia, Oceania, China, and India—including the most popular and widely owned models in these markets. Continued development is expected to expand overall coverage to 90 percent or more by October ahead, DRiV plans to introduce high-quality, remanufactured European-built turbochargers to the Asia Pacific market. This upcoming offering reflects DRiV's commitment to sustainability by helping customers reduce environmental impact without compromising performance or quality. About DRiVDRiV, a Tenneco business group, is a leading player in the automotive aftermarket, dedicated to enhancing vehicle performance through superior solutions and engineering excellence. With a portfolio of respected brands, including MOOG®, Monroe®, Wagner®, Fel-Pro®, FP Diesel™, Walker®, and more, DRiV focuses on delivering high-quality auto parts that ensure optimal functionality and reliability. Visit to learn more. About TennecoTenneco is a global leader in the design, manufacturing and marketing of automotive products for original equipment and aftermarket customers. Through its DRiV, Performance Solutions, Clean Air, Powertrain and Champion® Ignition business groups, Tenneco drives advancements in global mobility by providing technology solutions across multiple sectors. Visit to learn more. CONTACT: Simonetta EspositoSenior Manager Global CommunicationsTennecosesposito@ Photos accompanying this announcement are available at: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-07-2025
- Automotive
- Yahoo
DRiV™ Expands Aftermarket Offering in Asia Pacific with New FP DIESEL and Wagner Product Lines
Newly launched starters, alternators, turbochargers and air conditioning compressors bring OE-quality solutions to independent shop and vehicle owners across the region SHANGHAI, July 14, 2025 (GLOBE NEWSWIRE) -- DRiV™, a leading global player in the automotive aftermarket, is reinforcing its commitment to the Asia Pacific automotive aftermarket with the launch of three new product lines: FP DIESEL™ starters and alternators, FP DIESEL™ turbochargers, and Wagner® HVAC components, beginning with air conditioning compressors. This strategic expansion reflects DRiV's mission to provide independent workshops, distributors, and vehicle owners with a comprehensive portfolio of OE-quality parts and trusted service solutions. 'This product launch represents our continued investment in the Asia Pacific region and our commitment to delivering high-quality, high-coverage solutions to meet the evolving needs of our customers,' said DRiV's Liu Ningjun, vice president and general manager, Asia Pacific. 'By expanding our portfolio with these new lines, we're helping workshops and distributors grow their businesses with confidence, backed by globally trusted brands and proven technologies.' All three product lines are engineered to meet rigorous OE specifications and tested for performance, durability, and reliability in demanding conditions. FP DIESEL Starters and Alternators – Built with OE-grade components and advanced engineering processes ensure reliable starts and stable power output. Designed for a wide range of commercial applications, including major European and Asian truck and bus platforms such as Volvo, MAN, Scania, Hino and Isuzu. FP DIESEL Turbochargers – Developed for heavy-duty truck applications, these turbochargers deliver OE-level performance and durability with compatibility across leading engine platforms such as Cummins and Detroit Diesel. Future expansions will include off-highway applications such as construction and industrial equipment. Wagner HVAC Compressors – The first offering in Wagner's new HVAC product line for Asia Pacific, these compressors are designed for a precise fit, efficient cooling and stable performance across a wide variety of vehicle models. This launch marks the debut of these product lines in the Asia Pacific region. The initial range is expected to provide approximately 70 percent vehicle coverage across Southeast Asia, Oceania, China, and India—including the most popular and widely owned models in these markets. Continued development is expected to expand overall coverage to 90 percent or more by October ahead, DRiV plans to introduce high-quality, remanufactured European-built turbochargers to the Asia Pacific market. This upcoming offering reflects DRiV's commitment to sustainability by helping customers reduce environmental impact without compromising performance or quality. About DRiVDRiV, a Tenneco business group, is a leading player in the automotive aftermarket, dedicated to enhancing vehicle performance through superior solutions and engineering excellence. With a portfolio of respected brands, including MOOG®, Monroe®, Wagner®, Fel-Pro®, FP Diesel™, Walker®, and more, DRiV focuses on delivering high-quality auto parts that ensure optimal functionality and reliability. Visit to learn more. About TennecoTenneco is a global leader in the design, manufacturing and marketing of automotive products for original equipment and aftermarket customers. Through its DRiV, Performance Solutions, Clean Air, Powertrain and Champion® Ignition business groups, Tenneco drives advancements in global mobility by providing technology solutions across multiple sectors. Visit to learn more. CONTACT: Simonetta EspositoSenior Manager Global CommunicationsTennecosesposito@ Photos accompanying this announcement are available at:
Yahoo
26-06-2025
- Automotive
- Yahoo
ASEAN 2025 vehicle market forecast to be flat
ASEAN Light Vehicle (LV) sales increased by 6% YoY in April, with growth seen across the region except for in the Philippines. As such, ASEAN volumes improved from a 2% YoY expansion in Q1 2025 to 3% YoY in January-April. LV sales in the Philippines fell by 7% YoY in April, despite the Manila International Auto Show (MIAS) taking place during the month which reportedly recorded the highest number of attendees and companies launching models at the event. The country's weaker performance was likely due to a) the upcoming school year enrolment leading consumers to delay new vehicle purchases; and b) certain new models and/or booking orders from the event being delivered later. However, in terms of YTD sales, the growth rate remained positive at 6% YoY. Although the April result was weaker than expected, the 2025 outlook for the Philippines remains unchanged at 492k units, since orders and deliveries during the MIAS event could be delayed for a month. A further key development in this report is that the government is set to cancel the tax exemption on Pickups in order to increase government revenue under the proposed Capital Market Efficiency Promotion Act (CMEPA). The tax rate on Pickups will be between 4-50% depending on the price—therefore, we anticipate that consumers will rush to make Pickup purchases before the policy is implemented. It is important to note that Pickups have been exempt from taxes since 2018 under former President Duterte's Tax Reform for Acceleration and Inclusion (TRAIN) law. Vietnam's LV demand has continued to rise and increased by 35% YoY in April, which contributed to a YTD expansion of 48% YoY. This strong demand was bolstered by economic growth—GDP remained robust in Q1 2025 and rose by 6.9% YoY, while investments also grew by 7.2% YoY. Additionally, the government has extended the exemption of the registration fee for Battery Electric Vehicles (BEVs) until February 2027, having initially set the expiration date for February 2025. Since April volumes aligned with our expectations, the sales projection for Vietnam remains unchanged at 521k units in 2025. Thailand's LV sales returned to positive territory, albeit with a modest growth rate of 0.6% in April. This increase was primarily fueled by demand in the Passenger Vehicle (PV) segment, particularly for BEVs and Plug-in Hybrid Electric Vehicles (PHEVs). However, the Light Commercial Vehicle (LCV) segment experienced a significant decline, dropping by 19% YoY due to a sluggish Pickup Truck market. Recent forecasts from Oxford Economics (OE) have further downgraded Thailand's GDP growth projection for 2025 to 1.9%, down from 2.3% just a month ago and 2.5% prior to the recent geopolitical developments surrounding US President Trump's liberation day. Despite these challenges, we maintain the country's 2025 LV sales outlook at 556k units, reflecting a 2% decline YoY. However, the projection appears increasingly precarious due to ongoing political tensions and recent conflicts along the Thai-Cambodia border. Malaysia's April sales rose by 4% YoY, largely driven by national brand, Proton, and new Chinese entrant, Jaecoo. Based on recent information, volumes in the country were estimated to have marginally fallen by 0.4% YoY to 70k units in May, although this marked a surge of 14% MoM, and was the second highest monthly total of the year so far. The impressive rebound was mainly attributed to accelerations of Perodua and Honda. As such, May's performance was stronger than expected, and we have subsequently increased the 2025 outlook to 790k units, from 772k units previously. However, this still represents a 3% YoY drop from the 817k units recorded in 2024. Indonesia's LV sales increased by 8% YoY in April, predominantly due to new Chinese players including BYD, Chery, Denza, Geely and Aion. As these brands—except for Chery— only offer BEV models, it implies that the stronger performance came courtesy of early BEV adopters. However, the recent GAIKINDO report indicated that the LV market plunged by 14% YoY in May, owing to softer consumer purchasing power and cloudy economic conditions. As such, we have lowered Indonesia's sales outlook through the long term, due to a) May sales being weaker than expected due to declining commodity prices and increasing global tension; and b) the local media reporting that vehicle prices rose by an average of 7.5% per year while the income of the middle class grew by only 3-3.5% per year, hindering the demographic's ability to afford a new vehicle. As a result, Indonesia's LV sales are now projected at 748k units in 2025 and will not return to the 1.0 million unit level until 2029. Combining these developments, the overall ASEAN sales outlook remains unchanged at 3.11 million units in 2025, which is a slight drop from 3.12 million units in 2024. However, downside risks remain, and there is the potential for the market to drop below 3.0 million units due to global trade uncertainty and conflict in the Middle East. This article was first published on GlobalData's dedicated research platform, the . "ASEAN 2025 vehicle market forecast to be flat – GlobalData" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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Scoop
12-06-2025
- Business
- Scoop
1 Apr 2026 Legislative Changes Create Major Tax Savings Opportunity For Thousands Of Kiwis & Expat Brits W/ UK Pensions
Press Release – QROPS New Zealand New Zealand is home to over 200,000 British-born residents, and in the past 20 years over 200,000 Kiwis having lived and worked in the UK during their Overseas Experience (OE) with many accumulating private UK pension entitlements along the way. WELLINGTON, NZ – 12 June 2025 – Groundbreaking changes to New Zealand's tax law, coming into effect on 1 April 2026, will create unprecedented opportunity for thousands of Kiwis and British expats with UK pensions to save on tax and transfer sooner. The new rules – announced by Inland Revenue and welcomed by industry experts – introduce a flat 28% tax rate and a 'scheme pays' mechanism, allowing tax to be paid directly from transferred pension funds, a move set to reshape the pension transfer landscape for those under 55 years old, and those on high incomes. Key Points of the Reform: • Flat 28% Tax Rate: From 1 April 2026, individuals transferring their UK pension to a New Zealand Recognised Overseas Pension Scheme (ROPS/QROPS) will be able to pay tax at a flat 28% rate, rather than their marginal income tax rate, which can be as high as 39%. • 'Scheme Pays' Mechanism: The new system allows the tax due on the transfer to be paid directly from the transferred pension funds by the NZ receiving scheme • Unlocking Access for the Under-55s: This reform is especially significant for those under 55, who previously faced having to pay any tax on a UK pension transfer from their pocket rather than from the transfer itself. A Game-Changer for the British and Kiwi Community New Zealand is home to over 200,000 British-born residents, and in the past 20 years over 200,000 Kiwis having lived and worked in the UK during their Overseas Experience (OE) with many accumulating private UK pension entitlements along the way. For both groups, the new legislation opens the door to potentially transferring sooner than they might have, saving tax on the transfer, and avoiding a compounding tax bill. Simon Swallow, UK pensions expert and Director at Charter Square ( says, 'These changes will remove a major barrier for Kiwis and British expats who want to bring their UK pensions home. The flat 28% tax rate and scheme pays mechanism means people can finally transfer their pensions without facing a crippling tax bill or the administrative nightmare of paying tax out-of-pocket. For many, there will be surprisingly less tax to pay than they imagined.' Why Act Now? • Compare Your Options: Those considering a transfer should weigh the benefits of moving now versus waiting for the new rules. For some, acting before the changes may still be advantageous, especially if they are within the four-year tax-free window or are low – income earners. • Professional Guidance Essential: The rules are complex, and every individual's circumstances are different. Seeking expert advice is critical to making the most tax-efficient decision.
