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Taiwan to invest in next-generation vehicle R&D: official

Taiwan to invest in next-generation vehicle R&D: official

Taipei, Oct. 29 (CNA) The Ministry of Economic Affairs (MOEA) plans to invest NT$2 billion (US$61.3 million) in the research and development of next-generation vehicles over the next four years, with the aim of stimulating the development of higher value-added manufacturing industries in the country, a ministry official said Thursday. Chang Ming-huan (???), division chief of the Department of Industrial Technology (DoIT) under the MOEA, said the ministry is to start the four-year investment project next year. He estimated that the plan could attract investment of some NT$20 billion in related industries by 2020, and create an additional production value of some NT$130 billion over the next five years. Chang indicated that next-generation automobiles will feature energy consumption savings, reduction of weight, security and smart functions, and said that this development trend will lead Taiwan's relatively more advanced electronic and electrical engineering industries toward the higher value-added and emergent automative electronics industry. In addition to the production of auto parts and accessories for the next-generation vehicles, most of which will be for export, Taiwan is expected to develop at least two types of domestically produced vehicles for export by 2020, he added. (By Huang Chiao-wen and Romulo Huang)


Updated : 2021-09-24 11:09 GMT+08:00