Teco to Launch In-hub Motors for 2-, 4-wheel EVs in April

Taipei, March 8, 2012 (CENS)--Teco Electric & Machinery Co., Ltd., a major heavy electrical-machinery maker in Taiwan, recently claimed that it will launch in-hub motors for two- and four-wheel electric vehicles in April for manufacturers in Taiwan and China.

Sophia Chiu, Teco's president, said that her company will soon sign sales agreements with in-hub motor customers and kick off mass production, without revealing customer names.

Teco had consolidate revenue of NT$43.2 billion (US$1.44 billion) in 2011, up 9.5% from previous year, with revenue and profits expected to further grow in 2012 thanks to big-volume shipments of wind-generator motors and in-hub vehicle motors.

According to Chiu, Teco's in-hub motors will be showcased in the upcoming 25th Taipei International Automobile Electronics Show (2012 AutoTronics Taipei), April 11-14.

To further raise the firm's competitiveness in the motor industry, Teco will divide its electrical-machinery business into two divisions, including heavy electrical-machinery and green-energy electrical-machinery. The former will focus mainly on heavy-duty motors, while the latter electric vehicle (EV) motors, she added. Home appliance is another major revenue generator for Teco, to contribute some 40% of revenue in 2012.

Chiu stressed that the government is trying to help develop the EV industry, especially by subsidization. To tap business opportunities in the EV market, Teco signed an agreement with SIM-Drive of Japan to jointly produce in-hub motors with annual production goal of some 100,000 units. The Japanese partner will handle design and R&D, while Teco mass production.

Teco said that in-hub motors have better torque and longer cruise range, and will jointly tap the high-potential market in China with the Japanese partner.