Printer Friendly

Teco eyes electric tricycle replacement market in Philippines.

Taipei, Aug. 7, 2012 (CENS) -- Teco Group of Taiwan, a major electrical-machinery conglomerate on the island, plans to tie up with a Filipino partner to set up a factory in the Philippines to manufacture electric propulsion systems, with investment of about US$40 million to US$50 million and located in the Subic Bay to turn out products for export to Vietnam, Indonesia, Sri Lanka, India etc.

Teco's move aims to tap the Filipino government's plan to gradually replace about 3.5 million powered tricycles with pure-electric models.

Executives of Teco say that the maker plans to bid for an electric tricycle contract organized by the Asian Development Bank, and can supply also brushless motors, DC motors or wheel (in-hub) motors.

Teco has contacted Chinese automaker Chery Automobile Co., Ltd. for supply of chassis of the e-tricycles, also planning to send managers to Chery for negotiations.

Industry sources say that Teco also plans to produce electric commercial vehicles in the Philippines.

Teco executives say that the Manila-headquartered Asian Development Bank has agreed to lend US$500 million to the Filipino government to replace the 3.5 million powered tricycles, by first replacing 5,000 electric tricycles and then as many as 100,000 units by 2016.

Industry insiders say that Teco has successfully developed independent wheel motors for EV applications and has sent samples to the Yulon Group for installation on a multi-purpose van for tests.

COPYRIGHT 2012 China Economic News Services
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Teco Group of Taiwan
Author:Liang, Quincy
Publication:The Taiwan Economic News
Article Type:Brief article
Geographic Code:9TAIW
Date:Aug 7, 2012
Words:236
Previous Article:Nvidia, MediaTek vie for 40nm foundry capacity.
Next Article:Taiwan's leading auto dealer Hotai's H1 pretax earnings up 16% YoY.
Topics:

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters