Southeast Motor Co (東南汽車), a venture between the Fujian provincial government and Taiwan's China Motor Co (中華汽車), said it's considering an initial share sale by 2004 to fund expansion and make vans for Mitsubishi Motors Corp.
China Motor, Taiwan's largest maker of truck and vans, is 15 percent owned by Japan's Mitsubishi Motors, which in turn is 37 percent owned by DaimlerChrysler. China Motor is the local Mitsubishi Motors assembler and retailer in Taiwan.
Southeast Motors will sell yuan-denominated shares, which only Chinese investors can buy. The assembler hasn't decided how much money it plans to raise, said company spokesman Li Zhongyong.
Southeast Motor, which has made 45,000 Mitsubishi Freeca and Delica vans each year since 1996, plans to expand annual capacity to 100,000 units within two years, from 60,000 now, Li said. "We are currently making preparations and adjustments to expand our production line," he said.
The Chinese assembler's plan will help Mitsubishi, Japan's fourth-biggest automaker, expand in the world's fastest-growing auto market. The plan will also help it compete with rivals Honda Motor Corp, General Motors Corp and Volkswagen AG, which have been making passenger cars in China for years.
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
HSBC Holdings PLC is deepening its commitment to Taiwan as the economy emerges as one of the bank’s fastest-growing markets globally, driven by an artificial intelligence (AI) investment boom, expanding cross-border trade, and rising wealth creation. “The advantage that Taiwan has is a growth story linked to the semiconductor and broader AI industries, strong underlying corporate performance, and wealth creation,” said Surendra Rosha, HSBC’s co-chief executive for Asia and the Middle East, in an exclusive interview with the Taipei Times on June 2, during this year’s HSBC Taiwan Conference. That combination has helped HSBC cement its position as the most profitable international
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
Hon Hai Precision Industry Co (鴻海精密) yesterday said it would work with US chipmaker Intel Corp to jointly develop and deploy next-generation artificial intelligence (AI) infrastructure and intelligent computing platforms in a move to capture booming demand for AI computing systems. Hon Hai, also known as Foxconn Technology Group (富士康), said in a statement that the partnership would combine its global manufacturing scale, system integration expertise and AI data center deployment capabilities with Intel’s strengths in processor architecture, silicon technologies and software ecosystem. The companies said they plan to work on equipment used in AI data centers, including server racks powered by
RSS