China Motor Corp (中華汽車) yesterday said it has set a target of selling 500 electric bicycles a month, with a view to becoming the leader in the domestic market.
The company hopes it can overtake E-Ton Power Tech Co (益通動能) — which sells about 300 e-bikes a month — to become the nation’s No. 1 seller, a company executive said.
Annual sales of two-wheeled electric vehicles in the nation reach about 30,000 units, of which 22,000 are e-bikes, China Motor executive vice president Chen Chao-wen (陳昭文) told reporters at a launch for the company’s Bobe e-bike.
“There are about 50 e-bike brands in Taiwan competing for a small market,” Chen said.
Bobe has a maximum speed of 25kph and is priced at NT$29,800 per unit.
The company is targeting senior citizens and foreign workers as its major customers, and expects sales in southern Taiwan and New Taipei City (新北市) to top other places.
China Motor hopes to sell 7,000 two-wheeled electric vehicles in the nation a year, including about 1,400 Bobe e-bikes.
However, domestic sales of two-wheeled electric vehicles are expected to be flat at 30,000 units this year from last year because of high battery costs, Chen said.
“The market is still heavily dependent on government subsidy, which is shrinking from year to year,” Chen said.