Wire harness maker BizLink Holding Inc (貿聯) yesterday said it expects sales growth in the automotive electronics sector to accelerate this year, on the back of the launch of Tesla Motors Inc’s Model 3 and a quick expansion of vehicle chargers worldwide.
“We saw a significant increase in sales of electric vehicle-related products last year after years of efforts, as the [electric car] market matures,” a BizLink investor relations official said by telephone.
BizLink has worked with US-based Tesla, the world’s largest electric vehicle manufacturer and vendor, for 11 years.
Revenue contribution from car electronics harnesses was between 12 and 15 percent last year, compared with the previous year’s 10 percent, BizLink data showed.
The official, who declined to be named, gave an optimistic outlook for this year, saying that rising orders from its major client should boost BizLink’s automotive electronics revenue.
Tesla is expected to sell more than 100,000 vehicles this year, compared with last year’s 76,230 units, supported by the launch of its lower-priced compact sedan Model 3, the official told the Taipei Times.
The Model 3, which is able to accelerate from zero to 60 miles per hour (96.6kph) in less than six seconds, has a starting price of US$35,000 before incentives.
Tesla is scheduled to begin production of the Model 3 in the middle of the year and start deliveries next year, according to information posted on the US company’s Web site.
To meet the increasing demand from Tesla, BizLink plans to expand production capacity at its plant in Shenzhen, China.
The company is also eyeing the growing opportunities in the after-sales service market for electric cars, such as electric harnesses for energy storage equipment and chargers.
Given the higher penetration rates of electric cars in Europe and the US, the company said it is considering tapping into the two markets with its customized wire harnesses for charging stations, the official said.
BizLink saw its revenue decrease 5.39 percent annually to NT$659.7 million (US$21.37 million) last month, due to fewer working days because of the Lunar New Year holiday.
Last year, the company posted cumulative revenue of NT$9.21 billion, up 9.43 percent from the previous year, data showed.
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