Taiwan Now Aiming to Become Asia’s EV-Component Production Hub
It seems there’s now not a nation in the world that doesn’t want in on the electric vehicle action in some sort of way.
Taiwan…late to the game, but ready to get serious now.
Taiwan is home to several monster conglomerates, including Teco Electric and Machinery Co. Ltd., the world’s leading industrial motor manufacturer.
Teco is now looking to expand one of its production facilities in order to manufacturer parts for consumer electric vehicles.
Initially, Teco will look to sell these parts globally, but the grand scheme calls for Teco to almost single-highhandedly make Taiwan the EV parts manufacturing hub of the Asia-Pacific region.
After a hopefully successful launch of EV-component production and sales in Taiwan, Teco will turn to the Philippines where it hopes to win a supply order for the “$500 million e-Trike program of the Department of Energy and the Asian Development Bank.”
Can Taiwan topple China and South Korea, two countries that already lead the world in EV-component production? We shall see.
Source: Business Inquirer