Pihsiang's Monthly Revenue Hits 4-Year High in June

Taipei, July 23, 2012 (CENS)--Pihsiang Machinery Manufacturing Co., Ltd., one of the world's leading makers of healthcare electric scooters and an aggressive player in electric vehicle (EV) development and production, saw its June revenue record an annual growth of 51% hit a four-year monthly high of NT$177 million (US$5.9 million).

In the second quarter, Pihsiang had quarterly revenue of NT$455 million (US$15.2 million), also a four-year record high.

Vivian Wu, Pihsiang president, attributed the sales in June to rising orders from Europe and the U.S. In the first half, Pihsiang had cumulative revenue of NT$670 million (US$22.3 million), up 15% year on year (YoY).

Pihsiang said that its major American distributor has been raising order volume for healthcare electric scooters, to an expected 20% of Pihsiang's overall shipments and as high as 40%-50% in the future, to become the major revenue driver this year.

The firm is scheduled to soon launch a hybrid EV jointly developed with Taiwan's Teco Group. It began shipping in June its "Achensa" branded two-seat urban EVs to Europe and plans to deliver some 5,000 units this year.

In addition, Pihsiang plans to tap into the Chinese market with its healthcare electric scooters.

Responding to the government's EV pilot plans, the company has announced plans to set up three EV operation centers as well as several EV charging stations in eastern Taiwan, to provide tourist shuttles, EV leasing, and sightseeing services.

Pihsiang said that its subsidiary Pihsiang Energy Technology Co., Ltd. (PHET), a LiFePO4 lithium-ion battery maker, is constructing a new power-cell factory in Taiwan, which is to be inaugurated by mid-2013 and begin mass production with maximum annual capacity of some 150 million Ah.