Yulon Sets Revenue Target at NT$1 Trillion by 2020

Taipei, Nov. 21, 2011 (CENS)--In view of the huge potential of the mainland Chinese market and the electric car industry, Yulon Group has projected to raise its revenue to NT$1 trillion by 2020, more than triple this year's projected value of NT$288 billion.

With Taiwan's auto market expected to grow over 10% to 360,000 units this year, Yulon Group, which comprises 45 enterprises, will rack up aggregate sales of NT$288 billion, up 20%, this year. Major growth drivers are the three branded enterprises of China Motor, Nissan Taiwan, and Luxgen. The rollout of new Luxgen models at the end this year and new models by other brands next year will create strong growth momentum for the group in 2012.

A ranking official of Yulon Group pointed out that the major growth drivers for the group to attain the ambitious target of NT$1 trillion by 2020 are the expansion of Luxgen model in the mainland Chinese market from next year and the explosive growth of electric cars in five years.

Dongfeng Yulon, said the official, is expected to sell 150,000 Luxgen cars next year, with sales reaching 30 billion yuan (NT$142.8 billion), which will expand along with the launch of new models.

Yulon Motor, the flagship firm of Yulon Group, is now responsible for the development and development of electric cars, while China Motor, Nissan Taiwan, and Luxgen are introducing electric cars from abroad for sales in Taiwan.

Yulon Group believes that the electric car market will gradually mature in five years and Yulon will not only tap the electric-car markets in Taiwan and China but also explore overseas markets.

Yulon Group reported that it will strive to establish a complete industrial chain for electric cars, including production, maintenance, and collection of batteries.

The group boasts extensive business scope, including auto brands, manufacturing, dealership, insurance, and components and parts. In 2009, it raked in profit of NT$6 billion on sales of NT$180 billion, which expanded to NT$15 billion and NT$240 billion, respectively, in 2010.