MOEA Revs Up Taiwan's Electric Vehicle Industry

In response to the global electrification of transportation, Taiwan's Ministry of Economic Affairs (MOEA) is driving the transformation of local car manufacturers toward electric vehicle (EV) production. A prime example of this shift is the domestically produced LUXGEN n7, which is projected to sell tens of thousands of units this year. The total output value of Taiwan's EV sector is expected to exceed NT$500 billion in 2024, with a growth rate of 25%.

Kuo Chao-Chung, supervisor of the Metal Electromechanical Industry Division at MOEA, announced that Taiwan has set ambitious goals for EV adoption, aiming for 30% market share by 2030 and 100% by 2040. Taiwan's well-established ICT industry offers a strategic advantage. While the country was unable to produce its own fuel engines in the past, it has strong capabilities in producing electric motors. As the automotive industry transitions from fuel vehicles to EVs, Taiwanese manufacturers are well-positioned to lead in producing complete electric vehicles, from components to final assembly.

MOEA's policy is designed to encourage traditional automakers to invest in local EV production. It also aims to transform the domestic vehicle components industry by leveraging Taiwan's ICT expertise, pushing for electrification and smart technology integration. The development of a competitive supply chain for intelligent EVs, including smart cockpits and telematics systems, is expected to gradually enter the global market. Kuo noted that the national production of EVs is a stepping stone, with the ultimate goal of exporting Taiwanese-made electric vehicles worldwide.

Several ICT companies in Taiwan are actively entering the automotive electronics field, with some already securing positions within Tier 1 automaker supply chains. For example, Pegatron's smart cockpit solutions highlight Taiwan's growing role in the EV industry. Taiwan's strengths in semiconductors and chip production further enhance its ability to integrate intelligent vehicle electrical systems.

Additionally, the Industrial Development Administration (IDA) of MOEA is leading efforts to invest in Advanced Driver Assistance Systems (ADAS) and smart cockpit technologies. These advancements aim to support intelligent driving and offer complete cockpit solutions to automakers, positioning Taiwan as a crucial player in the global EV supply chain.