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Taiwan's EV Supply Chain Could Make a Comeback in Q2

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2022-06-16
     EV sales have grown in Q1. On top of it, Tesla in Shanghai has returned to production and had nearly 9,000 new EVs in containers ready for shipment, and further, founder Elon Musk was in Indonesia to scout opportunities for a new factory there. The industry is looking at hundreds of billions of New Taiwanese Dollars for EV supply chain starting from Q2. Component companies said Tesla seeking a factory in Indonesia brings greater benefits to Taiwanese supply chain than it does to Thailand and India.
 
     The Q1 global new energy vehicle sales reached 2 million, up 80% from the same quarter last year. BEVs were sold up to 1.5 million vehicles with the strongest growth. PHEVs were sold 493 thousand vehicles.
 
     Taiwanese component companies said the Asian EV market is led by China, and with ASEAN as an EV heartland in addition to China, we can expect growth potential in Indonesia. Some of the Taiwanese automotive suppliers have had roots in Indonesia for a while and if Tesla will have a factory in Indonesia, it will favor Taiwanese companies most.
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