TOAVH Targets 11 Billion Baht Revenue, Expands into Green Business

TOAVH has revealed its business plan to generate 11 billion baht in revenue with a projected 5% growth. The company has announced a 650-million-baht investment to expand into green business sectors this year, aiming to become Thailand’s leading powder paint producer while strengthening its car dealership business and entering the electric vehicle (EV) market. TOAVH has partnered with five Chinese brands to build a robust, eco-friendly business.
Mr. Nattavuth Tangkaravakoon, President of TOA Venture Holding Co., Ltd., explained that in 2024, TOAVH is prioritising strong and stable business growth through the concept of “Healthy and Environmentally Friendly.” The company is focused on developing innovations in production, selecting products and services that are safe for consumer health, and environmentally responsible, all while addressing the needs of Thai consumers.
To support these goals, TOAVH has expanded its investment in the green business sector with a total budget of 650 million baht, allocated as follows:
This expansion will bring TOAPC’s total production capacity to 9,000 tonnes annually, making it Thailand’s largest powder paint manufacturer. Powder paint products, which reduce environmental impacts by lowering volatile organic compounds (VOCs) and CO2 emissions by up to 40% compared to oil-based paints, are in increasing demand, growing by 10% annually. TOAVH’s investment positions it to lead the growing powder paint market.
TOAVH has also invested 220 million baht in the construction of a new ZEEKR showroom and service centre on Ratchaphruek Road, along with renovations of six showrooms, including the MG Evolution showroom. These upgrades will support the expansion of the EV brands, aiming for a cumulative sales increase of 10% and an income growth of 7% this year.
“The electric vehicle market in Thailand is growing rapidly, with consumer interest reflecting increased awareness and responsibility towards the environment,” Mr. Nattavuth noted. BEV registrations have risen by 17.4% in 2024, with total registrations reaching 200,109 vehicles by August.
Mr. Nattavuth added that TOAVH’s green business investments will enable its subsidiaries to meet growing market demands, driving significant growth and strengthening the business. TOAVH aims to achieve 11 billion baht in revenue this year, divided into 40% from the industrial paint and automotive parts group (4.4 billion baht), 50% from the car dealership group (5.5 billion baht), and 10% from other business groups (1.1 billion baht).