Formosa Energy & Material Technology Co (台塑長園能源科技), a battery component venture of Taiwan’s biggest diversified industrial company, plans to start its first plant in the first quarter of next year.
The lithium-iron-phosphorous-oxide plant in Changhua County will have a monthly capacity of 120 tonnes and can ramp up to 400 tonnes within a year, depending on market demand, Formosa Energy president Terence Yang (楊昆烈) told reporters in Taipei yesterday.
The Formosa Plastics Group (台塑集團) venture is banking on rising demand for electric vehicles, as countries including China aim to reduce the consumption of fossil fuels, blamed for global warming. Potential customers include China’s BYD Co (比亞迪), said Stephen Liu, a manager at Formosa Energy.
“Our market isn’t only in Taiwan; it also includes China,” Liu said yesterday.
Formosa Energy is a venture between Formosa Plastics Group and Changs Ascending Enterprise Co (長園科技實業), a battery maker based in Taichung.
China has supported automaker investments in alternative-energy vehicles to curb oil imports, reduce pollution and help the local industry challenge General Motors Co and Toyota Motor Corp abroad.
BYD, the Chinese automaker backed by billionaire Warren Buffett, started selling the world’s first mass-produced plug-in hybrid in December.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last
US CONSCULTANT: The US Department of Commerce’s Ursula Burns is a rarely seen US government consultant to be put forward to sit on the board, nominated as an independent director Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday nominated 10 candidates for its new board of directors, including Ursula Burns from the US Department of Commerce. It is rare that TSMC has nominated a US government consultant to sit on its board. Burns was nominated as one of seven independent directors. She is vice chair of the department’s Advisory Council on Supply Chain Competitiveness. Burns is to stand for election at TSMC’s annual shareholders’ meeting on June 4 along with the rest of the candidates. TSMC chairman Mark Liu (劉德音) was not on the list after in December last