Delta Electronics Inc’s (台達電) electric vehicle (EV) products are “growing by 40 to 50 percent year-on-year,” chairman Yancey Hai (海英俊) said yesterday at the company’s annual shareholders’ meeting, where he said he was bullish on EV and energy storage markets.
Even though Delta’s EV business is small compared with overall sales, Hai said he expects rapid growth for EV products.
“Delta is working with major automakers in long-term collaborations,” Hai said. “We can expect future growth, especially if EV prices come down.”
Photo: Ann Wang, Reuters
He also expects Delta’s energy storage business to grow, as Taiwan mandates that heavy industrial users of electricity switch to renewable energy, Hai said.
“As solar and wind power become more important, we are going to need more facilities for energy storage, and providing such storage is also a way for heavy users to meet their renewable energy obligations,” he said.
Delta is already working with state-run Taiwan Power Co (台電) on a storage project on Kinmen.
“We hope that there will be many more,” Hai added.
Because of a nationwide level 3 COVID-19 alert, only three shareholders attended the meeting in person, with the rest watching online.
In response to a shareholder’s question about a components shortage, Hai said that the issue was gradually easing.
“Most of the components shortage involves integrated circuits. After a long period of shortage, the situation seems to be getting a little better,” he said.
Hai also said that Delta was preparing to participate in carbon pricing.
“We have priced carbon at US$300 per tonne internally,” Hai said. “For the time being we will use the money to improve and invest in green power so that we can reach our goal of carbon neutrality as quickly as possible.”
Shareholders yesterday approved the company’s plan to distribute a cash dividend of NT$5.50 per share based on last year’s earnings per share of NT$9.81, which suggested a payout ratio of 56.07 percent.
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