The global electric vehicle industry takes off, Tron Energy obtains capital and alliance with a Thai automobile listed company


The right-hand drive electric bus chassis of Tron Energy for export

Electric vehicles are one of the most watched industries in 2021, and even the information technology industry has invested one after another because of the strong momentum of the electric vehicle market. In order to promote the adoption and penetration of electric vehicles, the Thai government committed to offering many incentives to promote the local electric vehicle industry in Thailand. From the trial of official electric vehicles in 2021, the electrification will gradually be extended to the mass transportation system. Incentive measures include the production of electric buses, trucks and electric three-wheeled motorcycles, which will be exempted from corporate income tax for three years; at the same time, 90% of the import tariffs on raw materials and necessities such as battery components and modules will be reduced or exempted for two years. Make Thailand an important manufacturing base in the ASEAN region.

Richard Huang, chairman of Tron Energy, said that expanding overseas markets is one of the most important business strategies for Tron Energy to develop the electric bus business. In the past three years, its tentacles have covered overseas markets such as Thailand, Singapore, Malaysia, Indonesia, and India.

Founded in 2011, Tron Energy is one of the representative manufacturers of electric buses in Taiwan. The operating mileage of electric buses has so far exceeded 13 million kilometers, and the market share and customer repurchase rate are among the leading ones. A Thailand automotive components listed companies are favored and will become Tron Energy’s new shareholders. Currently, the investment is ready to be submitted to the Investment Commission for trial. At the same time, a joint venture company will be established in Thailand to strive for business opportunities in the local electric vehicle market.

In response to operational needs, Tron Energy has a capital increase plan, but strictly screens shareholders. Chairman Richard Huang said that the Thai company is a professional manufacturer of automotive components that has been established for more than 50 years, supplying world-renowned automakers, and is also a long-term partner of Tron Energy, which meets Tron Energy’s requirements for strategic shareholders. The Thai company is actively developing into the electric vehicle industry. In view of Tron Energy’s good foundation and excellent performance in electric buses, it has strengthened its cooperative relationship through investment and shareholding, hoping to use Tron Energy’s technology and experience to shorten the learning curve.

The automobile industry has developed for more than a century, and there have been earth-shaking changes in recent years. Deputy General Manager Eric Chiu said that from the increase in the number of electric vehicles on the road, the parking lot with charging point are full of electric vehicles, which shows that the new era of electric vehicles has come and has actually landed and closer to the lives of the people. Eric Chiu pointed out that "electrification, connectivity, intelligence, and sharing" are the four important development trends of the automotive industry. Among them, electrification is the foundation of development. Tron Energy has mature technology and experience in electrification and with the strategic cooperation, will accelerate the promotion of overseas markets.

Batteries account for nearly 40% of the cost of electric vehicles. Tron Energy has a diversified industrial layout. The joint venture established with GigaStorage focuses on cathode materials of lithium-ion battery. Its subsidiary Mintron Energy produces lithium-ion battery systems for electric vehicles and energy storage devices. Tron Energy electric bus has the advantages of upstream and downstream integration, and its uptime rate and  local content percentage are also leading. Tron Energy owns the energy for the development of the entire vehicle, and also masters the battery system, which is the core of the electric vehicle system. In addition, Tron Energy is also a major shareholder of Turing  Drive Company, one of the leading autopilot company in Taiwan, and integrates the key technologies of automobile intelligence. At the same time, Tron Energy can grasp the advantages of batteries in accordance with the provisions of the renewable energy development regulations, enter the energy storage system market with the advantages that the industry does not have.