TEMICO Motor India Pvt Ltd has obtained powertrain orders from major Indian electric vehicle (EV) manufacturers, its parent company Teco Electric & Machinery Co (東元電機) said in a statement yesterday.
TEMICO is to supply 5,000 9m and 12m electric bus direct-drive powertrains and 50,000 light commercial vehicle powertrains, as part of its three-year contract, the statement said.
Delivery of the powertrains is expected to begin in the first quarter of next year, it said.
Photo courtesy of Teco Electric & Machinery Co
Financial terms of the deal were not disclosed.
TEMICO is a joint venture established by Teco and Japan’s Mitsui & Co in 2020 to supply high-efficiency industrial motors and powertrain systems for EVs in India. Located in Bengaluru in southern India, TEMICO began trial runs of its production line for EV powertrains at the end of November last year.
It is expected to start mass production after gaining certification from the Bureau of Indian Standards next month, the firm said.
“This large order for EV powertrains marks an important breakthrough for Teco in the Indian market,” Teco chairman Morris Li (利明献) said.
Li was elected, unopposed, as Teco chairman during a board meeting on May 31, succeeding Sophia Chiu (邱純枝). Chiu was promoted to vice chairwoman of Teco Group (東元集團).
Following the rapid growth of the Indian EV market and to cope with Indian Prime Minister Narendra Modi’s “Make in India” policy, Teco aims to expand local operations and increase market share in the South Asian nation, Li said.
After starting the mass production of EV powertrains later year, TEMICO expects to become the second company in India that can produce electric bus powertrains locally, as there is only one such manufacturer currently, George Lien (連昭志), a board director of TEMICO, said in the statement.
Teco has focused heavily on manufacturing powertrains for electric buses at its home market, but the scale of the Indian market is more attractive to the company, Lien said.
The Indian electric bus market is expected to expand significantly, as Modi’s government plans to replace 800,000 diesel-powered buses across the nation with electric buses by 2030, and New Delhi has launched preferential policies to increase efficiency and achieve decarbonization in public transportation systems, he said.
TEMICO has continued to talk with other bus manufacturers in India, as it strives to become an important electric bus powertrain supplier, Lien said.
The company has a positive outlook regarding its EV powertrain and charging pile business in India, China and North America, as those markets have shown signs of a stable demand, he added.
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