TAIPEI (Taiwan News) — Taiwan is expected to continue its reign in the global bicycle industry after it manufactured 63 percent of the electric bikes currently on the European market.
According to Business Weekly, Taiwan's bicycle industry will shine even more brightly as it slowly enters the "electric era." The magazine said the country has been known as the "bicycle kingdom" since it was ranked as the world's largest exporter of high-end bicycles and the second largest of overall bicycle products in 2016.
The magazine pointed out that the internationally acclaimed Bosch eBike Systems, which is said to supply its techniques to more than 30 popular bicycle brands across the Asia Pacific region, inaugurated its Asia headquarter in Taichung in June. This shows the importance of Taiwan in the industry, according to the magazine.
During the opening of the Taiwan Cycling Culture Museum in July, former Giant chairman Tony Lo (羅祥安) said that he predicted Taiwan will continue its leading status in global bicycle manufacturing for another decade. Meanwhile, the country's assemblers and frame manufacturers have officially replaced their Chinese competitors in Europe, accounting for 63 percent of the manufacturing of electric bicycles on the market.
Taiwanese economists stressed that the world has a long-term demand for electric bikes, and the country must secure competitive advantages by building on its technical innovation and domestic supply chain. They said that Taiwan is poised to create another "bicycle miracle" as long as it utilizes its existing features.