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.
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