Taiwan's top bicycle manufacturer, Giant Manufacturing Co (
Giant is planning to invest US$12 million in constructing the plant, to be located Chengdu, Sichuan province. The factory will have a production capacity of 400,000 bicycles per year, the spokesman said.
Construction of the plant will begin after an investment plan is approved by the Investment Commission of the Ministry of Economic Affairs, the spokesman said.
Once the plant becomes operational, it will be the largest bike manufacturer in western China, capable of supplying fashionable and high-quality bicycles to the region stretching from Kunming in the south to Xian in the north, an area that is home to 300 million people, the spokesman said.
China is the largest bicycle market in the world, with the bicycle continuing to be the main means of transportation in the country of 1.3 billion. Annual demand for bikes of various kinds in the country totals around 25 million units, the spokesman said.
Giant has established two manufacturing plants in China since 1993, with one located in Kunshan in the eastern province of Jiangshu and the other in Pudong, Shanghai.
After 11 years of doing business in China, Giant is now the No. 1 bicycle brand name in China in both quality and quantity, according to the spokesman.
In view of China's vast size and the amount of time and money needed to transport bicycles from the eastern part of the country to the western part, Giant's management has decided to establish a plant in the west.
Giant, which currently maintains four manufacturing plants around the world, produced 4.7 million bikes of various kinds last year. The company's output goal for this year is 5 million units, the spokesman said.
The company's flagship manufacturing plant, located in Taiwan, is projected to export 620,000 high-value bikes to Europe, Japan and North America this year, while its Kunshan plant is expected to churn out 2.8 million bikes, with 1.25 million of them to be sold in China.
The Pudong plant, meanwhile, is expected to produce 1.3 million children's bikes this year, mainly for export to the US.
Giant's plant in the Netherlands is projected to manufacture 280,000 bikes this year, exclusively for the European market.
Giant is concentrating on China and hopes its sales there will increase from last year's 1 million units to 1.25 million this year. The company hopes to develop a 10-percent market share in China, or 3 million units per year, the spokesman said.
As part of its market segmentation strategy, Giant uses three brand names -- Giant, X-net and G&P -- for its bikes sold in China.
Taiwan’s foreign exchange reserves fell below the US$600 billion mark at the end of last month, with the central bank reporting a total of US$596.89 billion — a decline of US$8.6 billion from February — ending a three-month streak of increases. The central bank attributed the drop to a combination of factors such as outflows by foreign institutional investors, currency fluctuations and its own market interventions. “The large-scale outflows disrupted the balance of supply and demand in the foreign exchange market, prompting the central bank to intervene repeatedly by selling US dollars to stabilize the local currency,” Department of Foreign
Intel Corp is joining Elon Musk’s long-shot effort to develop semiconductors for Tesla Inc, Space Exploration Technologies Corp and xAI, marking a surprising twist in the chipmaker’s comeback bid. Intel would help the Terafab project “refactor” the technology in a chip factory, the company said on Tuesday in a post on X, Musk’s social media platform. That is a stage in the development process that typically helps make chips more powerful or reliable. The chipmaker’s shares jumped 4.2 percent to US$52.91 in New York trading on Tuesday. The Terafab project is a grand plan by Musk to eventually manufacture his own chips for
ENERGY ISSUES: The TSIA urged the government to increase natural gas and helium reserves to reduce the impact of the Middle East war on semiconductor supply stability Chip testing and packaging service provider ASE Technology Holding Co (日月光投控) yesterday said it planned to invest more than NT$100 billion (US$3.15 billion) in building a new advanced chip testing facility in Kaohsiung to keep up with customer demand driven by the artificial intelligence (AI) boom. That would be included in the company’s capital expenditure budget next year, ASE said. There is also room to raise this year’s capital spending budget from a record-high US$7 billion estimated three months ago, it added. ASE would have six factories under construction this year, another record-breaking number, ASE chief operating officer Tien Wu
Taiwan Power Co (Taipower, 台電) yesterday said it plans to resume operations at two coal-fired power generators for three months to boost security of electricity supply as liquefied natural gas (LNG) supply risks are running high due to the Middle East conflict. The two coal-fired power generators are at Mailiao Power Plant in Yunlin County’s Mailiao Township (麥寮). The plant, operated by Formosa Plastics Group (台塑集團), supplied electricity to Taipower’s power grid until the end of last year. Taipower’s decision came about one month after Minister of Economic Affairs Kung Ming-hsin (龔明鑫) on March 10 said that the nation had no imminent
RSS