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.
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
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
RECORD LOW: Global firms’ increased inventories, tariff disputes not yet impacting Taiwan and new graduates not yet entering the market contributed to the decrease Taiwan’s unemployment rate last month dropped to 3.3 percent, the lowest for the month in 25 years, as strong exports and resilient domestic demand boosted hiring across various sectors, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. After seasonal adjustments, the jobless rate eased to 3.34 percent, the best performance in 24 years, suggesting a stable labor market, although a mild increase is expected with the graduation season from this month through August, the statistics agency said. “Potential shocks from tariff disputes between the US and China have yet to affect Taiwan’s job market,” Census Department Deputy Director Tan Wen-ling
UNCERTAINTIES: The world’s biggest chip packager and tester is closely monitoring the US’ tariff policy before making any capacity adjustments, a company official said ASE Technology Holding Inc (日月光投控), the world’s biggest chip packager and tester, yesterday said it is cautiously evaluating new advanced packaging capacity expansion in the US in response to customers’ requests amid uncertainties about the US’ tariff policy. Compared with its semiconductor peers, ASE has been relatively prudent about building new capacity in the US. However, the company is adjusting its global manufacturing footprint expansion after US President Donald Trump announced “reciprocal” tariffs in April, and new import duties targeting semiconductors and other items that are vital to national security. ASE subsidiary Siliconware Precision Industries Co (SPIL, 矽品精密) is participating in Nvidia
RSS