Taiwan-based AUO recently announced that it will acquire BHTC (Behr-Hella Thermocontrol GmbH), a German automotive tier-one component supplier, for 600 million euros (US$625 million; US$1= 0.96 euros) in cash. The transaction is slated for completion in the first half of 2024. Through this cooperation, AUO aims to transform from a display panel brand into a total solution provider, offering a complete range of products including panels, automotive systems, human-machine interface integration, and smart cockpits. BHTC has been a customer of AUO in the past and has factories in Europe, North America, India, and China. With this acquisition, AUO's overseas production bases will be established in one fell swoop.
In the global major passenger car market, the projected sales for 2023 are 85.69 million units, indicating a year-on-year growth rate of 6.3%. In 2024, the forecasted sales are 90.67 million units, reflecting a year-on-year growth rate of 5.8%, according to MIC (Market Intelligence & Consulting Institute). Meanwhile, MIC also predicts that the global EV (Electric Vehicle) sales will reach 14.3 million units in 2023, showing a growth of 16.7% compared to 2022. Currently, electric vehicles account for about 13% of new passenger car sales. It is anticipated that by 2025, their market share will surpass 20%.