GP Industries, the world’s second-largest producer of consumer batteries, is relocating its production capacity to Southeast Asia to better serve the US market amidst rising tariffs and geopolitical tensions. The company, celebrating its 30th anniversary of incorporation and public listing in Singapore, aims to maintain competitiveness by leveraging its facilities in Malaysia, Vietnam, and Thailand.
The strategic move will see Southeast Asian plants focusing on the US market, whilst the company’s China facility will cater to Europe and Asia. This shift is designed to streamline supply chains and meet country-of-origin requirements, ensuring cost efficiency. Victor Lo, Chairman and CEO of GP Industries, highlighted the company’s resilience and adaptability over the past three decades, stating, “We are confident that we will continue to demonstrate the same strength, adaptability, and commitment to innovation that have sustained our growth and performance through times of change.”
GP Industries, owned 86.18% by Hong Kong-listed Gold Peak Technology Group, is also planning significant investments in Johor to produce next-generation batteries for data centres. The company has seen its FY2025 gross margin for batteries rise to 25% due to improved utilisation and optimised supply chains.
Looking forward, GP Industries plans to invest in research and development, enhance operational efficiency, and expand its global network of audio experience centres. The company is also focused on nurturing future leaders to sustain its legacy, with Lo emphasising the importance of succession planning.
