Fri, Dec 29, 2017 - Page 12 News List

TAITRA to boost EV ventures with Indian firms

COLLABORATION:The Taiwan External Trade and Development Council plans to hold exhibitions as well as matchmaking events to pair up EV firms in Taiwan with Indian firms

By Kuo Chia-erh  /  Staff reporter

A strategic alliance targeting India’s booming electric vehicle (EV) market is to be formed in the first quarter of next year at the earliest, the Taiwan External Trade and Development Council (TAITRA, 外貿協會) said yesterday.

Some Taiwanese companies — including Kwang Yang Motor Co (光陽工業) and Teco Electric & Machinery Co (東元電機) — have expressed interest in expanding their presence in India, given the strong growth there, TAITRA chairman James Huang (黃志芳) told a news conference in Taipei.

The alliance would aim to attract top Indian makers of cars and motorcycles in line with a new government regulation stipulating that only EVs be sold in India by 2030, Huang said.

By 2020, the number of two-wheeled EVs is expected to reach 4.8 million units in India, surging from nearly 400,000 units, TAITRA said.

The number is forecast to hit 6 million units by 2025 and 12 million by 2030, TAITRA said.

To get started in the Indian market, Taiwanese companies might build plants in the country or form joint ventures with Indian business partners, Huang said.

“It might be difficult for Taiwanese firms to promote their own brands in India,” he said, citing cultural differences.

Apart from vehicles, the emerging EV market needs high-efficiency batteries and energy storage, giving Taiwanese firms in other industries the opportunity to join the supply chain, he said.

“Taiwan still has an advantage [over global rivals] in producing motors and control systems,” he said, adding that more than 20 Taiwanese firms have entered the supply chain of US-based Tesla Inc.

To encourage EV collaboration, TAITRA said it aims to set up an EV-themed pavilion at the Taiwan Expo to be held in New Delhi next year.

The three-day exhibition aims to display the latest EV technology developed by Taiwanese companies and is to serve as an important matchmaking event, TAITRA said, adding that events aimed at promoting EV business have fetched orders valued at US$100 million from Indian customers so far this year.

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