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This study is to identify the key challenges of technology transfer towards the implementation of the industry 4.0 in automotive component manufacturing in Malaysia. This study utilizing semi structured interview conducted in two Automative Component Manufacturing companies and involved 15 participants from three distinct groups of employees: top management, intermediate management, and technical staff. The data was transcribed verbatim and analyzed using the NVivo tool, which is essential in qualitative research for ensuring accuracy and depth in data interpretation. The research identified 11 key challenges that encompass both internal and external factors, including willingness to transfer, experience, language barriers, facilities, outdated technology, cultural differences, grey areas, human resources, capital, competition, and communication. Effectively addressing these challenges is crucial for companies seeking to harness the advantages of Industry 4.0 and retain their competitive position in an increasingly digital environment. This study concentrated exclusively on automotive component manufacturers, acknowledging that technology transfer processes can differ significantly in other industries. By addressing these components thoughtfully, automotive manufacturers can enhance their innovation capabilities, improve operational efficiency, and maintain a competitive edge in an ever-evolving market landscape. This study also has relevant contributions to the company’s top management, policy makers and researchers interested in getting involved directly in the transfer of technology process.  This research originally lies in the framework of a technology transfer process development in joint venture as a business strategy.