Automotive lighting module maker Laster Tech Co Ltd’s (麗清科技) new plant in Taoyuan’s Guanyin Industrial Park (桃園觀音工業區) is expected to begin trial production in the second quarter at the earliest, it said on Friday, adding that it has secured orders of components for smart automotive lighting.
Earlier this month, the company won approval from the Ministry of Economic Affairs to invest NT$800 million (US$26.65 million) in the new plant.
The largest LED automotive lighting components supplier in China said it plans to set up a smart production facility to meet demand from customers seeking to avoid US tariffs on China-made products.
Laster is conservative about its business outlook for this quarter, the company said in a statement, citing work disruption from the Lunar New Year holiday and a sluggish Chinese auto market due to trade tensions with the US.
However, the company expects strong order pull-in by major clients later this year to enhance factory utilization and stabilize production yield for new products, which would have a positive effect on its business this year, the statement said.
Laster reported revenue last year fell 6.38 percent year-on-year to NT$4.12 billion, compared with NT$4.4 billion in 2018, due to weak stocking by customers amid a slump in auto sales in China.
Passenger car sales in China fell for a second consecutive year last year, down 7.4 percent to 20.7 million units, following the 5.8 percent drop in 2018, data released on Thursday by the China Passenger Car Association showed.
Separately, automotive interior parts supplier Hiroca Holdings Ltd (廣華控股) reported that revenue fell 7.75 percent to NT$7.44 billion last year, from NT$8.06 billion the previous year.
The company expects steady orders this quarter from Toyota Motor Corp, Honda Motor Co and Nissan Motor Co to help offset the impact of fewer working days during the Lunar New Year holiday, it said in a statement.
The three Japanese brands account for more than 70 percent of the company’s revenue, it said.
Hiroca has also expanded to serve clients in eastern China and has taken part in SAIC Motor Corp’s (上汽集團) supply chain, which would inject new growth momentum this year, it said.
The company offers injection molding, spray painting and water transfer printing services for automotive interior parts, such as center armrest, dashboard, door and seat.
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