TECO to produce electric car power systems in India in 2022
Taipei, March 23 (CNA) TECO Electric & Machinery Co., Ltd., one of Taiwan's leading electric motor suppliers, is expected to start mass production of power systems for electric cars in India in January 2022, a top executive of the company said Tuesday.
The company's India plant will finalize its electric car power system production line by the end of this year, in a nearly US$20 million joint venture with Japan's Mitsui and Co., Ltd., TECO President George Lien (連昭志) told reporters after attending the 2021 Smart City Summit & Expo in Taipei.
Prior to that, TECO will first equip an electric car power system production line at its plant in Taoyuan in May, based on which its planned e-car power system production line at the Indian plant will be installed, Lien said.
The e-car power system production line at the Taoyuan plant will be accessible to members of the MIH Open Platform Alliance, initiated by Hon Hai Precision Industry Co., Ltd., to provide assistance to other local automakers and boost the overall e-car development in Taiwan, he said.
Lien said TECO has focused heavily on the manufacture of electric buses at home. He added that a newly built electric truck already completed road testing last week.
In terms of the group's sales for the first half of the year, Lien said he expects to see a better result compared with a year earlier on the back of a global economic recovery that has pushed up demand for TECO's electric motors.
Looking to the second half of the year, Lien said he is confident of the performance in the China, U.S., Australia and European Union markets, which have shown signs of stable rebound.
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