Pihsiang Hits 4-year Monthly Revenue High in May

Taipei, June 12, 2012 (CENS)--Pihsiang Machinery Manufacturing Co., Ltd. (PMMC) of Taiwan, a major maker of electric scooters and electric vehicles (EVs) for handicapped, hit a four-year monthly revenue high in May of NT$175 million (US$5.8 million), up 42% year-on-year (YoY).

The company said the record will likely hit another high, while the company plans to ship its urban EVs to Europe in the second half, as well as launch EVs in Taiwan.

In the first five months, the firm had accumulated revenue of NT$493 million (US$16.4 million), up 6% YoY.

Vivian Chiang Wu, the president, says that increased orders from distributors in the U.S. should drive second-quarter revenue to NT$450 million-NT$470 million (US$15 million to NT$15.7 million), more than doubling from the first quarter. If all goes well, PMMC expects revenue this year to grow by 20% to 25%.

According to Wu, PMMC has been also aggressively developing sales channels in China, expecting to sell in three years some 10,000 to 15,000 electric scooters yearly.

PMMC plans to begin assembling its urban EV, a two-seat, four-wheel light EV for urban commuting, at its new factory in Ilan County, eastern Taiwan, and plans to begin shipping such EV in the third quarter, also targeting to ship some 5,000 units to mainly Europe this year.

Wu says that the company plans to supply about 100 models of EVs, including urban EVs, seven-seat electric multi-purpose van (MPV) and medium-size e-buses, to join an EV pilot project in Ilan by the year-end.