Kwang Yang Motor Co (光陽工業), a major manufacturer primarily of gasoline-powered scooters under the KYMCO brand, has pledged to invest NT$4.4 billion (US$142.4 million) in the research and manufacture of electric scooters and battery packs as well as the establishment of electrified infrastructure for sales of electric scooters in Taiwan, the Ministry of Economic Affairs said on Friday.
The InvesTaiwan Service Center on Friday approved the Kaohsiung-based company’s application to participate in the government’s incentive program, the ministry said.
The announcement comes as Kwang Yang is building a business model for the construction of an ecosystem for electric scooters, battery packs and battery-swapping stations around the nation, it said.
Photo: Lu Hsien-hsiu, Taipei Times
Eventually, the company hopes to provide comprehensive electric scooter solutions for individuals, enterprises and government agencies, it added.
Kwang Yang has achieved its goal of setting up 2,600 battery-swapping stations this year, which cover more than 80 percent of Taiwan’s administrative regions and make the company the largest provider of battery-swapping stations in the nation, the ministry said.
In addition, the company plans to carry out research on the reuse of old batteries and their recycling as part of its efforts to achieve its social responsibility and sustainability goals, it said.
InvesTaiwan also on Friday approved plans by three other companies, including machine tool maker Parkson Wu Industrial Co (寶嘉誠工業) and sheet metal processing provider Taiwa Precise Technique Co (台華精技), to establish or expand their manufacturing facilities in the nation, the ministry said.
The “Invest in Taiwan” initiative has to date attracted 1,377 companies to invest more than NT$2.08 trillion in Taiwan, with 10 applications pending review, it said.
The investment figure is expected to reach NT$2.2 trillion by the end of the year, Premier Chen Chien-jen (陳建仁) said on Saturday while attending an investment conference focusing on the private sector’s participation in public construction projects.
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