TAIPEI (Taiwan News) — Darfon Electronics said it is optimistic about the electric bicycle market, as easing price competition is expected to support revenue growth.

Company Chair Su Kai-chien (蘇開建) said mid- to high-end electric bicycles in Europe are priced more than NT$85,000 (US$2,720). To capture market opportunities, the company plans to offer an integrated supply chain covering batteries, frames, and assembly, aiming to lower costs, per CNA.

Su noted that last year was a challenging year for the bicycle sector. Darfon reported revenue of NT$25.07 billion, up 15.5% year-on-year, while net profit fell 77.1% to NT$141 million.

The company acquired Swiss e-scooter brand SoFlow in October. SoFlow’s main markets are Switzerland, Germany, and Austria. The company plans to expand the brand’s presence in other European countries, Su said.

Darfon Electronics has introduced its battery management systems and automated production processes to manufacture SoFlow’s e-scooters, aiming to improve vehicle performance and production efficiency.

Darfon’s subsidiaries, Darfon Energy and TD Hitech Energy, have jointly developed a new battery system for e-bikes. Darfon said the system meets EU safety standards and has passed waterproof tests.

The system also uses high-density battery cells to boost energy density by 15% over conventional batteries, while lightweight materials help reduce vehicle weight.

The company’s new Vietnam factory has started production, with capabilities ranging from frame manufacturing and automated painting lines to vehicle assembly, with a maximum annual capacity of 500,000 units. Su added its production has been shifted from Taiwan to Vietnam to meet global orders.

In January, the company said it will acquire Hitron Electronics for NT$540 million. Su added the acquisition will enhance its battery module and high-end power supply technologies, helping to expand its presence in AI infrastructure and industrial automation equipment.