Major Indian EV manufacturers to receive powertrains from TEMICO Motor
印度主要電動車製造商將從 TEMICO Motor 取得動力系統
TEMICO Motor India Pvt Ltd has secured significant powertrain orders from major Indian electric vehicle (EV) manufacturers, according to a statement by its parent company, Teco Electric & Machinery Co (東元電機). As part of a three-year contract, TEMICO will supply 5,000 direct-drive powertrains for 9m and 12m electric buses and 50,000 powertrains for light commercial vehicles, with deliveries set to begin in the first quarter of next year. TEMICO, a joint venture between Teco and Japan’s Mitsui & Co established in 2020, is located in Bengaluru and began trial runs of its EV powertrain production line last November. The company expects to start mass production after obtaining certification from the Bureau of Indian Standards next month.
Teco chairman Morris Li highlighted this order as a significant milestone for Teco in the Indian market, emphasizing the company’s commitment to expanding its operations in India in line with Prime Minister Narendra Modi’s “Make in India” policy. TEMICO aims to become the second company in India capable of producing electric bus powertrains locally, following the expected start of mass production later this year. The Indian electric bus market is poised for substantial growth, with the government planning to replace 800,000 diesel-powered buses with electric ones by 2030. Teco is optimistic about the prospects for its EV powertrain and charging pile business in India, China, and North America, citing stable demand in these markets.
https://www.taipeitimes.com/News/biz/archives/2024/07/02/2003820176
小編點評：TEMICO Motor India Pvt Ltd 是東元電機公司和三井物產公司的合資企業，已獲得印度主要電動車製造商的大量動力系統訂單。 TEMICO 計劃從明年初開始為電動公車供應 5,000 套直驅動力系統，為輕型商用車供應 50,000 套直驅動力系統，旨在鞏固其在印度不斷擴大的電動車市場的地位。
Taiwan Excellence to present groundbreaking technology at the 2024 Taiwan Expo India
台灣精品將在 2024 年印度台灣形象展上展示突破性技術
Taiwan Excellence will set up a pavilion at Taiwan Expo India 2024 for the seventh consecutive year, showcasing its pioneering innovations and advanced technology. The expo, scheduled from July 8th to 10th at Bharat Mandapam (Pragati Maidan) in Delhi, aims to increase awareness of Taiwanese smart solutions, providing exposure and networking opportunities for award-winning brands with Indian and global media and buyers. This year’s pavilion, inaugurated by TAITRA chairman James C.F. Huang and Indian dancer Shakti Mohan, will focus on smart healthcare technology for smart home and living, advanced gadgets, ICT, and industrial products. Twenty-four brands, including ADVANTECH, GIGABYTE, MSI, and ZYXEL, will debut groundbreaking products such as the CYBO Run, GIGABYTE’s Z790 AERO G Motherboard, and KANFON’s Maglev Fiber Laser Cutting Machine.
Taiwan Expo, organized by the International Trade Administration of MOEA and TAITRA, aims to strengthen ties between India and Taiwan. In 2023, bilateral trade reached $8.2 billion, with Taiwan’s exports to India growing by 13%. Beyond business, Taiwan Excellence is involved in ESG campaigns, such as “Pedal for Progress,” promoting sustainability through a tree plantation drive. It also supports the “Go Green with Taiwan” campaign, offering $20,000 prizes for innovative proposals combining Taiwanese sustainable products with creative solutions. Celebrating its seventh year at the expo, Taiwan Excellence aims to foster collaboration and mutual growth, creating new opportunities for both nations.
小編點評：台北電腦公會國際合作中心也將於台灣形象館設立TCA創新館，雲集Goldkey Technology、Keypasco、Netio Technologies、Phison Electronics、Ubestream、Volktek 6家公司，並與NASSCOM及FAIITA會員舉辦獨家B2B媒合會。
Ola Electric’s IPO debut is imminent, depending on the procedure: Bhavish Aggarwal, MD
Ola Electric 首次公開募股即將到來，具體取決於程序：Bhavish Aggarwal執行長
Ola Electric is preparing to launch its initial public offering (IPO) later this year, as confirmed by Chairman and Managing Director Bhavish Aggarwal in an interview with CNBC-TV18. The exact timing of the IPO will depend on ongoing processes, with Aggarwal stating, “We are working through these observations and still have a few processes to complete over the next few weeks or months.” In June 2024, the Securities and Exchange Board of India (SEBI) approved Ola Electric’s IPO, which includes a primary issuance of ₹5,500 crore and a secondary sale of ₹1,750 crore, making Ola Electric the first EV startup to receive such clearance from the market regulator. The company, backed by SoftBank and Temasek, filed for a draft red herring prospectus in December 2023 to raise ₹5,500 crore and proposed an offer to sell 95.12 million equity shares at a face value of ₹10.
Aggarwal emphasized that discussions with investors have focused on the company’s growth and scale rather than its valuation, noting significant improvements in gross margins over the past two to three years. He mentioned that investor response has been very encouraging but did not comment on the company’s valuation. Additionally, there have been rumors that Ola Cabs, a related company, might also go public with a $500 million IPO. However, Aggarwal did not provide any details regarding this potential IPO.
小編點評：由董事長兼執行長 Bhavish Aggarwal 領導的 Ola Electric 即將於今年稍後啟動 IPO，等待程序完成。隨著SEBI的批准併計劃進行大規模的首次和二次發行，這家電動車新創公司旨在在印度市場樹立先例，這得益於投資者對其成長軌跡和營運改進的積極興趣。
June saw a 14% decline in EV sales to 106,081 units, indicating difficulties ahead
6 月電動車銷量下降 14% 至 106,081 輛，顯示未來困難重重
Sales of electric vehicles (EVs) in India saw a significant 14 per cent decline in June 2024 compared to May, attributed to changes in government policies and a growing interest in hybrid vehicles. Despite this, June 2024 sales were over 20 per cent higher than the same month last year, when government subsidy adjustments had caused a drop. According to Vahan data from the Ministry of Road Transport and Highways, EV sales in June 2024 fell to 106,081 units from May’s 123,704 units, marking the lowest sales figure of the year. So far in 2024, around 839,545 electric vehicles have been sold, making up about 6.69 per cent of the total 12,541,684 vehicles sold. Factors such as low incentives for electric two-wheelers (e2Ws), high EV prices, and insufficient charging infrastructure have impacted EV sales, according to Preetesh Singh from NRI Consulting & Solutions.
Electric two-wheelers (e2Ws) accounted for 57 per cent of the total EV sales in 2024, indicating their significant influence on overall EV sales. Government subsidy reductions have played a crucial role in the fluctuating sales. The Electric Mobility Promotion Scheme 2024 (EMPS 2024), introduced in April, further cut the subsidy for e2Ws to Rs 10,000 per vehicle and for electric three-wheelers (e3Ws) to Rs 50,000, with incentives set at Rs 5,000 per kilowatt-hour (kWh). Industry executives are concerned that sales growth could be delayed if the government does not extend the EMPS 2024 deadline or introduce the third phase of FAME. An industry player noted that discontinuation of EV incentives could lead to short-term sales declines until the production-linked incentives (PLI) scheme for the automobile sector begins disbursing incentives from April 1, 2025.
小編點評：2024 年 6 月，受政策變化和混合動力汽車興趣上升的影響，印度電動車銷量較 5 月顯著下降 14%。儘管遭遇挫折，6月銷量仍呈現超過20%的正成長，反映出電動車市場在監管變化和補貼調整中持續面臨的挑戰和波動。
India Surges Ahead in Mobile Phone Exports, Catching Up with China and Vietnam
印度手機出口激增，趕上中國和越南
India is making significant strides in mobile phone exports, outpacing China and Vietnam with a remarkable 40.5% increase in FY24. In contrast, China and Vietnam experienced declines of 2.78% and 17.6%, respectively. India’s success is largely attributed to capturing nearly half of the reduction in mobile exports from these countries, reflecting effective strategies to attract supply chain diversification away from China.
The smartphone Production-Linked Incentive (PLI) scheme has been instrumental in this achievement, bolstering domestic manufacturing capabilities. Major players like Apple have scaled up production in India, with key vendors such as Foxconn, Pegatron, and Tata-owned Wistron doubling their production to US$ 14 billion and increasing exports to over US$ 10 billion in FY24. iPhone exports alone account for 65% of India’s US$ 15.6 billion mobile exports, significantly contributing to the country’s broader electronics export sector, which surpassed US$ 29 billion in FY24.
Samsung has also benefited from the PLI scheme, with its mobile phone exports from India reaching approximately US$ 3.5 billion in FY24. This development underscores India’s growing role as a major mobile manufacturing and export hub, driven by global geopolitical dynamics and the need for diversified manufacturing bases.
小編點評：印度手機出口大幅成長，2024 財年成長 40.5%，超過中國和越南。這項成就很大程度上歸功於智慧型手機生產連結激勵（PLI）計劃的有效實施，該計劃激勵了蘋果和三星等主要製造商提高在該國的產量。印度的出口總額為 156 億美元，其中僅 iPhone 就佔了 65%，受益於中國以外的戰略供應鏈多元化，印度正在鞏固其作為全球行動製造和出口市場重要參與者的地位。
Ola Electric to Invest $100 Million in Gigafactory for Battery Cell Production
Ola Electric 將投資 1 億美元建造超級工廠用於電池生產
Ola Electric, led by Founder Bhavish Aggarwal, announced a $100 million investment in the initial phase of its Gigafactory dedicated to lithium-ion battery cell production. The investment will establish 1.5 GWh of manufacturing capacity under ‘phase 1A,’ with plans to expand to 5 GWh in phase B. The locally produced battery cells will be incorporated into Ola’s electric scooters by early next year, following the finalization of the production process. Additionally, the company has received certification from the Bureau of Indian Standards (BIS) for these battery cells and plans to supply them to third-party companies, including other electric two-wheeler manufacturers and renewable energy firms.
In parallel, Ola Electric is preparing for its IPO, having recently secured approval from the Securities and Exchange Board of India (SEBI). The company aims to raise Rs 7,250 crore through a combination of a Rs 5,500 crore fresh issue and an offer for sale of Rs 1,750 crore. Ahead of the IPO, Ola Electric raised Rs 410 crore from EvolutionX Debt Capital via non-convertible debentures. Aggarwal emphasized the significant cost benefits of using in-house battery cells, which account for 35-40% of the cost of two-wheeler EVs.
小編點評：Ola Electric 在創辦人 Bhavish Aggarwal 的領導下，計劃投資 1 億美元建造其超級工廠，用於鋰離子電池的生產，目標是在初始階段 1.5 GWh 的產能後，將產能擴大至 5 GWh。這項投資突顯了 Ola 在即將進行 IPO 之前致力於透過將本地生產的電池整合到其電動機車中並供應給其他業者來增強國內製造能力並降低成本的承諾。
Foxconn to Invest Additional $1.54 Billion in India for Operational Expansion
富士康將在印度追加投資 15.4 億美元擴張業務
Taiwanese tech giant and key Apple supplier Foxconn has announced plans to invest an additional $1.54 billion in India to diversify its production away from China. In a filing to the Taiwan Stock Exchange, Foxconn’s Indian subsidiary stated it will allocate around 128 billion rupees for “engaging others to build on owned land” for operational needs. While specific details were not provided, the company promised further announcements once the transaction is confirmed. This move is part of Foxconn’s broader strategy to mitigate the impact of strict Covid policies, industrial unrest, and US-China diplomatic tensions on its China-based operations.
Foxconn, officially known as Hon Hai Precision Industry, is the world’s largest contract electronics manufacturer, assembling devices for numerous companies, including Apple’s iPhones. Chairman Young Liu indicated in an August earnings call that the company saw the potential for several billion dollars of investment in India. In May, Foxconn purchased a large tract of land near Bengaluru for $37 million, adding to its nine production campuses and more than 30 factories in the country. The company plans to expand its operations in India to include critical components for consumer electronics and electric vehicles, enhancing its competitiveness in the global market.
小編點評：富士康是全球電子製造業的主要業者，目前準備在印度追加投資 15.4 億美元，以擴大其營運足跡，並使生產業務多元化。這項投資旨在利用印度的戰略優勢，並在全球不確定性的情況下減少對中國工廠的依賴，反映了富士康對該地區長期成長和韌性的承諾。富士康計劃發展基礎設施並可能涉足關鍵零件製造，旨在加強其在消費電子產品和電動車等新興產業的地位。
Taiwanese ICT Suppliers Eye Relocation to India Amid Growing Collaboration
隨著合作不斷加深，台灣 ICT 供應商將目光轉向印度
India is set to become the next major original manufacturing hub, attracting more Taiwanese ICT suppliers to relocate, according to Taiwan External Trade Development Council’s Deputy Executive Director Keven Cheng. Highlighting the potential for collaboration in emerging and critical technologies, Cheng noted that partnerships like the one between Powerchip Semiconductor Manufacturing Corp (PSMC) and Tata Electronics are paving the way for increased Taiwanese investment in India. In February, the Indian government approved the establishment of three semiconductor units, including a significant Rs 91,000 crore project in Dholera, Gujarat, where Tata Electronics will set up a semiconductor fab in collaboration with PSMC. Cheng anticipates that technology transfers between these partners could occur within the next 3-5 years.
Additionally, India and Taiwan signed a migration and mobility agreement in February, facilitating the employment of Indian workers in Taiwan and marking a renewed momentum in bilateral cooperation. Initially, 1,000 Indian workers are expected to move to Taiwan to meet the island’s demand for technical labor. Speaking at an event regarding the 7th edition of the Taiwan Expo 2024, Cheng highlighted the 25.8% growth in trade volume between Taiwan and India from January to May 2024, making India Taiwan’s 14th largest trade partner. The upcoming Taiwan Expo aims to further enhance business opportunities and bilateral trade relations, featuring over 120 companies and showcasing more than 1,000 products from Taiwan.
Editor’s Note: India is emerging as a key destination for Taiwanese ICT suppliers seeking to relocate, buoyed by growing collaboration and strategic partnerships. The approval of semiconductor projects, including a major investment in Gujarat by Tata Electronics and Powerchip Semiconductor Manufacturing Corp, underscores India’s appeal as a manufacturing hub for critical technologies. A recent migration agreement between India and Taiwan further signals strengthening bilateral ties, facilitating the movement of technical labor and enhancing trade relations, as highlighted during the upcoming Taiwan Expo 2024 set to showcase Taiwanese innovation and products.
小編點評：在不斷加強的合作和戰略夥伴關係的推動下，印度正在成為台灣 ICT 供應商尋求搬遷的主要目的地。半導體計畫的批准，包括塔塔電子和力晶半導體製造公司在古吉拉特邦的重大投資，凸顯了印度作為關鍵技術製造中心的吸引力。印度和台灣最近達成的移工協議進一步標誌著加強雙邊關係、促進技術勞動力流動和加強貿易關係。
AI and Green Tech to Propel India’s Growth, Says KPIT MD Kishor Patil
KPIT 董事總經理 Kishor Patil 表示，人工智慧和綠色技術將推動印度的成長
KPIT Technologies MD and CEO Kishor Patil highlighted that AI and green technology will be crucial drivers of India’s growth amidst global disruptions. Despite challenges in the supply chain and the advent of AI, KPIT achieved a 40% growth in fiscal 2023-24, thanks to strategic investments in electrification and autonomous vehicles. The company outperformed the broader market with a 601.72% stock return over three years, compared to Nifty IT’s 27.71%. Patil emphasized the importance of aligning with areas where OEMs are investing, such as operating system architectures and consumer experience enhancements, and leveraging India’s strengths in software to capitalize on AI advancements.
Patil also pointed out that Asia, particularly Japan, Korea, and India, is the fastest-growing region for KPIT. He noted that while China leads in AI for autonomous vehicles, India has opportunities to reduce dependence on China and improve its AI capabilities. Cooperation, especially in the semiconductor sector, is essential, with potential partnerships between Indian design companies and Taiwanese fab firms. He stressed that significant progress in industries like semiconductors and AI would require long-term efforts. Patil, who chairs Nasscom’s engineering research and development council, mentioned a recent memorandum of understanding with a Taiwanese counterpart to enhance collaboration.
小編點評：KPIT Technologies 董事總經理兼執行長Kishor Patil 預測，在全球混亂的情況下，人工智慧和綠色技術將推動印度的經濟成長，並指出，在電氣化和自動駕駛汽車投資的推動下，KPIT 在2023- 24 財年實現了40% 的成長。帕蒂爾強調了印度在軟體領域的優勢和人工智慧領域的機遇，並強調了戰略夥伴關係的重要性，特別是在半導體領域，以增強印度的能力並減少對中國的依賴。上述言論是他在台北電腦公會國際合作中心於COMPUTEX同期舉辦的台灣東協印度合作論壇上發表。