New TTVMA Board of Director Election Signals Industry Trends

Taiwan Transportation Vehicle Manufacturers Association (TTVMA) held a new board of director elections this Tuesday, with second-generation business leaders and cross-industry firms as the latest trends on the board.

The association elected China Motor (CMC) President Chen Chao-wen as the new association president; Foxconn Chairman Young Liu debuted onto the board for the first time. Second-generation leaders are beginning to hold top management positions, and many of them were also elected onto the board, including Tong Yang and Ta Yih.

Seventeen seats on the board of 36 were up for elections. The new generation leaders include Tong Yang Vice President Wu Ming-tsung, the son of Chairman Wu Yung-fung, and Tah Yih acting representative Wu Cheng-yuan, the son of Chairman Wu Jun-yih's third brother Wu Jun-lang.

New members also joined the association, ranging from auto companies and electronics companies, such as Foxconn, Kuozui Motors, Her Sheen, Ford, Honda, and Shihlin Electric. Foxconn's membership signals the changing trends in the automotive industry and that related firms must adjust accordingly to the trends.

When asked to comment on the auto industry, the new director Chen said the recent technological trends had forced firms to face a "once-in-a-century revolution." The auto industry must combine electrification and smart-capabilities; in the future, the association will continue to strengthen communication with the government, Chen said, to introduce new resources to help the industry development, or subsidizing policies such as encouraging local production.