India’s Tata Technologies Ltd has become the latest member of Hon Hai Precision Industry Co’s (鴻海精密) MIH Open Platform to jointly develop sustainable mobility solutions for customers worldwide, the Taiwanese company said yesterday.
It might include embedded and electrical, electric platform development and battery management system solutions, among others, Hon Hai said.
Tata Technologies’ participation marks more progress in Hon Hai’s efforts to expand its electric-vehicle (EV) ecosystem through the MIH platform, it said.
Photo: RITCHIE B. TONGO, EPA-EFE
The open platform has about 2,380 members around the world, with an aim to jointly develop EV ecosystems and shrink the time to market for products.
Hon Hai made the announcement on Facebook and posted photographs, with one showing MIH Consortium chief executive officer Jack Cheng (鄭顯聰) shaking hands with Tata Technologies CEO Warren Harris.
Hon Hai signed the contract with Tata Technologies to join the platform at the Indian company’s office in Detroit, Michigan.
Hon Hai said it is on track to ship its first microprocessors and other chips used in EVs by 2024.
The company would supply chips for its EV customers and for original electronic manufacturers, said Gene Liu (劉錦勳), vice president of Hon Hai’s SoC Design Center.
Liu declined to comment on the company’s progress in collaboration with Stellantis NV on new vehicle chips.
Hon Hai has set a three-year goal to boost its revenue from EVs and related components to NT$1 trillion (US$33.69 billion), and for EV shipments to reach 500,000 to 750,000 units a year in 2025.
The company this year is to make electric light-duty trucks for Lordstown Motors Corp, which is based in Ohio, and produce EVs for Fisker Inc in the fourth quarter next year.
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
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
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