The nation’s exports of electric bicycles surpassed those of traditional bikes in the first five months of this year, with the export value of the former hitting a new high for the period, the Ministry of Finance has said.
Electric bike exports totaled US$550 million in the January-to-May period, up 44.2 percent from a year earlier, compared with US$530 million generated by traditional bicycle producers, up 38 percent annually, data compiled by the ministry showed.
Rising tensions between the US and China prompted foreign buyers of electric bikes to shift their orders to Taiwan, while growing awareness of environmental issues also boosted shipments, the ministry said.
Electric bicycles emerged as a new growth driver in the nation’s vehicle and component exports in the first five months, when the export value hit US$5.32 billion, up 41.2 percent from a year earlier, it said.
The slower growth in traditional bikes reflected a fall in international demand as the global economy was hit by the COVID-19 pandemic and there was an increase in bike-sharing worldwide, the ministry added.
The US was the largest buyer of Taiwanese electric bicycles, accounting for 39.3 percent of total outbound sales in the first five months, while Europe was the top foreign buyer of traditional bikes, making up 67 percent of the total.
Data on vehicle and part exports from Taiwan cover passenger vehicles and components as well as bicycles and bicycle parts, according to the ministry.
In the five-month period, bike component exports totaled US$1.74 billion, up 65.2 percent from a year earlier, with Europe the largest buyer, accounting for 53.6 percent of total sales, ahead of the US (14 percent) and ASEAN (12 percent), the ministry said.
Bicycle components accounted for a greater share of vehicle and component sales during the period, making up 32.8 percent of total sales, compared with 30.7 percent last year, it said.
Passenger car exports totaled US$400 million in the first five months, up 47.7 percent from a year earlier, the ministry said, citing the effects of reopening economies around the world.
The Middle East was the largest buyer of passenger cars, with purchases accounting for 43.3 percent of the total in the five-month period, but the growth moderated from more than 80 percent in the past few years, a reflection of the region’s weaker economy, the ministry said.
The US was the second-largest buyer of Taiwan’s passenger cars during the period, making up 17.2 percent on the back of strong demand for all-terrain vehicles, ahead of Europe (14.8 percent), and China and Hong Kong (14.4 percent), it said.
This week’s undoing of the TerraUSD algorithmic stablecoin and its sister token, Luna, has ramifications for all of crypto. First, there is the immediate impact: The rapid collapse of a once-popular pair of cryptocurrencies sent a ripple effect across the industry, contributing to plummeting coin prices that wiped hundreds of billions of market value from the digital-asset market and stoked worries over the potential fragility of digital-asset ventures. Then there are the knock-on effects. In addition to delivering punishing losses to individual users and investment firms, the spectacular failure of a market darling like Terra threatens to have a cooling effect
material SHORTAGE: Even as workers are about to return, Quanta lacks operating supplies, while Pegatron reported its lowest revenues in 11 quarters, the companies said Taiwan’s major Apple Inc supplier cut its outlook for the second quarter, joining a growing list of manufacturers warning about the fallout from lockdowns aimed at containing China’s worst COVID-19 outbreak in two years. Quanta Computer Inc (廣達電腦), which assembles MacBooks, expects a 20 percent quarterly fall in notebook shipments and a squeeze on margins this quarter due to the lockdown, a company representative said on Friday during an earnings call. The impact from supply chain disruptions could last until the end of the year, she said. The company’s Shanghai factory has been operating under tight restrictions since the middle of last month,
The US and the EU were yesterday to announce a joint effort aimed at identifying semiconductor supply disruptions as well as countering Russian disinformation, officials said. Top US officials are visiting the French scientific hub of Saclay for a meetup of the Trade and Technology Council, created last year as China increasingly exerts its technology clout. US officials acknowledged that Russia’s invasion of Ukraine has broadened the council’s scope, but said the Western bloc still has its eye on competition from China. The two sides will announce an “early warning system” for semiconductors supply disruptions, hoping to avoid excessive competition between Western powers
Hon Hai Precision Industry Co (鴻海精密) has made further progress in its expansion into semiconductor manufacturing as its subsidiary teams up with Dagang NeXchange Bhd (DNeX) to build a 12-inch wafer fab in Malaysia. Big Innovation Holdings Ltd (BIH), a wholly owned subsidiary of Hon Hai, has inked a memorandum of understanding (MOU) with DNeX to collaborate on establishing and operating the semiconductor fab in the Southeastern Asian country, it said in a statement released by DNeX on its Web site. The fab is expected to produce 40,000 12-inch wafers per month, deploying 28-nanometer and 40-nanometer process technologies, the statement said. Under