Wire harness maker Bizlink Holding Inc (貿聯) yesterday said it plans to launch portable chargers for electric cars in two years at the earliest, in an attempt to enter the thriving electric vehicle industry.
“We are applying for product certification in China, the US and Europe,” Bizlink chief executive officer Felix Teng (鄧劍華) said in Taipei, adding that the new products would enable the firm to tap into the global aftersales market for electric cars.
The company is also pouring resources into developing advanced driver assistance systems and wireless charging technology for electric cars together with its brand customers, Teng said.
Headquartered in Silicon Valley, Bizlink supplies harnesses and cables to global customers in the consumer electronics, electrical appliance and medical equipment industries.
As the company serves as an exclusive harness supplier to Tesla Inc, investors view Bizlink as a “Tesla concept stock.”
Existing supply chains for fossil fuel-powered cars appear stable, but the emergence of electric cars presents an opportunity for the firm to tap into the car industry, Bizlink chairman Roger Liang (梁華哲) said.
“We do not rule out the possibility of acquisitions in the future, as we hope to continue broadening our customer base and developing better technologies,” Liang said.
The company said it is optimistic about its business this year, given its increased market presence in Europe and robust customer demand worldwide.
Bizlink last year obtained a new manufacturing base in Europe through an electrical appliance assembly business it acquired from Leoni AG, which is based in Germany.
The deal helped the company enter the supply chains of Europe’s high-end appliance brands, such as UK-based vacuum cleaner maker Dyson Ltd, Bizlink said.
The company said the delayed delivery schedule of Tesla’s Model 3 would not put much pressure on its operations this year, as the US customer contributes to less than 10 percent of its total sales.
Bizlink saw its annual earnings exceed its paid-in capital for the first time last year and the firm has set an annual sales growth target of at least 20 percent for this year, after posting revenue of NT$15.6 billion (US$535.1 million) last year, a 69.41 percent jump from NT$9.21 billion in 2016.
Net profit rose 27.75 percent year-on-year from NT$909.95 million to NT$1.16 billion, with earnings per share increasing from NT$9.23 to NT$10.68.
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
RISING: Strong exports, and life insurance companies’ efforts to manage currency risks indicates the NT dollar would eventually pass the 29 level, an expert said The New Taiwan dollar yesterday rallied to its strongest in three years amid inflows to the nation’s stock market and broad-based weakness in the US dollar. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, said two traders, who asked not to be identified as they were not authorized to speak publicly. State-owned banks were seen buying the greenback yesterday, but only at a moderate scale, the traders said. The local currency gained 0.77 percent, outperforming almost all of its Asian peers, to close at NT$29.165 per US dollar in Taipei trading yesterday. The
RECORD LOW: Global firms’ increased inventories, tariff disputes not yet impacting Taiwan and new graduates not yet entering the market contributed to the decrease Taiwan’s unemployment rate last month dropped to 3.3 percent, the lowest for the month in 25 years, as strong exports and resilient domestic demand boosted hiring across various sectors, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. After seasonal adjustments, the jobless rate eased to 3.34 percent, the best performance in 24 years, suggesting a stable labor market, although a mild increase is expected with the graduation season from this month through August, the statistics agency said. “Potential shocks from tariff disputes between the US and China have yet to affect Taiwan’s job market,” Census Department Deputy Director Tan Wen-ling
UNCERTAINTIES: The world’s biggest chip packager and tester is closely monitoring the US’ tariff policy before making any capacity adjustments, a company official said ASE Technology Holding Inc (日月光投控), the world’s biggest chip packager and tester, yesterday said it is cautiously evaluating new advanced packaging capacity expansion in the US in response to customers’ requests amid uncertainties about the US’ tariff policy. Compared with its semiconductor peers, ASE has been relatively prudent about building new capacity in the US. However, the company is adjusting its global manufacturing footprint expansion after US President Donald Trump announced “reciprocal” tariffs in April, and new import duties targeting semiconductors and other items that are vital to national security. ASE subsidiary Siliconware Precision Industries Co (SPIL, 矽品精密) is participating in Nvidia
RSS