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Taiwanese EV battery maker Teco to expand into Turkey, Indonesia

Company expects sustained growth into 2022

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Teco General Manager Lien Chao-chih.

Teco General Manager Lien Chao-chih. (CNA photo)

TAIPEI (Taiwan News) — Taiwanese EV battery maker Teco Electric and Machinery Corporation (東元電機) has announced plans to expand into Turkey and Indonesia as total orders for its components continue to climb.

At an online meeting on Friday (Nov. 12), Teco General Manager Lien Chao-chih (連昭志) confirmed the company has orders to manufacture the electric motor system for EV passenger vehicles to be produced at its Indian factory, according to a CNA report. Teco will continue to negotiate with other manufacturers of international auto brands in India and plans to scale up its operation there next year.

Lien revealed Teco plans to repeat the success it has had in India by setting up new manufacturing facilities in two other emerging markets — Turkey and Indonesia.

Lien also said his company continues to play an important role in the supply chain for Google’s data centers.

He expects Teco will secure another NT$2 billion (US$55.56 billion) worth of orders in related projects. The company’s current orders for smart energy production already exceed NT$10 billion.

Looking forward to the year ahead, Teco CEO Chiu Chun-chih (邱純枝) said he expects his company’s operations to keep growing, buoyed by steady demand for smart home appliances as well as energy-efficient inverter air conditioners.