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.
Packed into a small room, a drone, bipedal robot, supermarket checkout and other devices showcase a vision of China’s software future — one where an operating system developed by national champion Huawei (華為) has replaced Windows and Android. The collection is at the Harmony Ecosystem Innovation Center in the southern city of Shenzhen, a local government-owned entity that encourages authorities, companies and hardware makers to develop software using OpenHarmony (鴻蒙), an open-source version of the operating system Huawei launched five years ago after US sanctions cut off support for Google’s Android. While Huawei’s recent strong-selling smartphone launches have been closely watched for
The waves of the Aegean Sea lap gently at the tables and chairs of two beach restaurants on Greece’s Halkidiki peninsula. It is an idyllic scene, but one that is totally illegal. Like many others in Greece, the two establishments on Pefkochori Beach do not have a license to set up shop so close to the water. After a wave of protests last summer by locals about bars and restaurants illegally covering beaches with sunbeds and tables, the Greek state is taking action. It is cracking down on rogue tourist practices with surveillance drones, satellite imagery and a special app
South Korea’s SK Hynix Inc, the world’s No. 2 memorychip maker, is to invest 103 trillion won (US$74.6 billion) through 2028 to strengthen its chips business, focusing on artificial intelligence (AI), its parent SK Group said yesterday. SK Group also said it plans to secure 80 trillion won by 2026 to invest in AI and semiconductors as well as fund shareholder returns, while streamlining its more than 175 subsidiaries. The sprawling conglomerate outlined the plans following a two-day strategy meeting, aiming to revive the group after SK Hynix, its main money maker, and the group’s electric vehicle battery arm suffered heavy losses. SK
Luxgen Motor Co (納智捷汽車), a subsidiary of Yulon Motor Co (裕隆汽車), yesterday said it is again offering a NT$100,000 discount for its entry-level n7 electric vehicle models. The n7’s price has gone down from NT$1.099 million to NT$999,000, Luxgen said, adding that there are 25,000 preorders for the model. MG Motor’s electric hatchback, the MG4, entered the market in the middle of last month, with a starting price of NT$990,000. China Motor Corp (中華汽車), which distributes MG vehicles in Taiwan, said it aims to sell 1,600 MG4s this year. MG, originally a British brand, was acquired by China’s SAIC Motor