China Motor Corp (CMC, 中華汽車), which markets vehicles under the Mitsubishi brand, plans to release new electric scooters, set up charging stations and introduce new vehicles in the second half of this year.
“We expect shipment of electric scooters to rise significantly this year, as we plan to introduce two new scooters next month, each with an engine displacement of between 115cc and 125cc,” CMC president Chen Chao-wen (陳昭文) said yesterday after the company’s annual shareholders’ meeting in Taipei.
A CMC official, who asked to remain anonymous, told the Taipei Times by telephone that the new scooters would have different functions, as one would be more suitable for delivering goods.
The company would adopt a new battery charging system rather than a battery swap solution for the new scooters, which could be charged at charging stations or at home, the official said.
“Our new scooters can be recharged in two ways, one faster than the other,” the official said.
“A 10-minute charge allows our scooters to travel 50km at an average speed of 30kph. If you are not in that big of a rush, it takes about an hour to fully charge the battery,” they added.
CMC said that it plans to cooperate with oil refiner CPC Corp, Taiwan (台灣中油) and government agencies to establish about 50 charging stations later this year.
Charging stations are to be built in Taoyuan first to take advantage of the city government’s higher subsidies for electric scooters, it said.
CMC sold 10,093 “e-moving” electric scooters last year, up 7.7 percent year-on-year, it said.
As for its automobile business, CMC said that it plans to release a new series of Mitsubishi Delica camper vans in the third quarter, while new series of Mitsubishi Zinger commercial-recreational vehicles would be introduced in the fourth quarter.
The company said that it expects its domestic vehicle sales to increase 2.7 percent annually to 49,624 units.
Sales of Veryca trucks and Zinger vehicles in the Middle East are this year expected to grow 20 percent year-on-year, it said.
CMC reported cumulative revenue in the first five months of the year dipped 11 percent annually to NT$14.25 billion (US$457.6 million).
Earnings per share were NT$0.56 in the first quarter, compared with NT$0.97 a year earlier, company data showed.
Shareholders yesterday approved the distribution of a cash dividend of NT$1.7 per share, suggesting a payout ratio of 64.39 percent based on last year’s earnings per share of NT$2.64.
They also approved a proposal to reduce the company’s paid-in capital by 60 percent from NT$13.84 billion to NT$5.54 billion, which would return NT$6 per share to shareholders.
The capital reduction would improve its financial structure, CMC said.
Overall, shareholders are to receive a total cash dividend of NT$7.7 per share.
CMC shares yesterday closed at NT$27.75 in Taipei trading, up 16.84 percent this year.
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