Yulon Motor Co (裕隆汽車) yesterday released a positive growth projection for revenue this year, thanks to increasing shipments of its first electric vehicle (EV) model based on the MIH Open EV Platform developed by Hon Hai Precision Industry Co (鴻海精密), also known as Foxconn.
Yulon started shipping the electric sports utility vehicle Luxgen n7 earlier this year with shipments totaling 500 units in the first quarter, Yulon Motor spokesman Steven Lo (羅文邑) told investors during a virtual conference.
“In March and April, we expedited shipments to 1,200 to 15,000 units a month,” Lo said. “With higher shipments from the second quarter, we expect to complete the 9,000 Luxgen n7s in preorders by the third quarter.”
Photo: CNA
Yulon manufactures the electric vehicle while its subsidiary, Luxgen Motor Co (納智捷汽車), sells it. Luxgen has received about 20,000 n7 preorders since September 2022 and plans to accept second-wave orders from next month or June, Lo said.
Luxgen n7 is designed and based on the Model C EV developed by Foxtron Vehicle Technologies Co (鴻華先進), a joint EV venture between Hon Hai and Yulon.
“We are positive about the company’s revenue outlook, with Luxgen n7 being a major highlight of the year,” Lo said.
He said Yulon and Luxgen are discussing plans to introduce new EV models later this year, but did not elaborate.
Hon Hai last month said the new-generation Model B electric car, also designed by Foxtron, would be ready for mass production and open for preorders at the end of this year.
Regarding speculation that Yulon might distribute Chinese EVs made by BYD Co (比亞迪) and Chery Automobile Co (奇瑞汽車) in Taiwan, Lo said the company does not rule out any possibility of making vehicles for other brands, but has no substantial plans to partner with Chinese companies.
Yulon’s consolidated revenue last year expanded 6.54 percent to NT$82.12 billion (US$2.53 billion) from NT$77.08 billion in 2022, partly helped by its auto financing business operated by another subsidiary, Taiwan Acceptance Corp (裕融). Net income improved to NT$8.04 billion last year, reversing a loss of NT$469 million the previous year.
Lo said Yulon’s gross margin this year should stay at a similar level to last year when it fell slightly to 35 percent from 36 percent in 2022.
COMPETITION: AMD, Intel and Qualcomm are unveiling new laptop and desktop parts in Las Vegas, arguing their technologies provide the best performance for AI workloads Advanced Micro Devices Inc (AMD), the second-biggest maker of computer processors, said its chips are to be used by Dell Technologies Inc for the first time in PCs sold to businesses. The chipmaker unveiled new processors it says would make AMD-based PCs the best at running artificial intelligence (AI) software. Dell has decided to use the chips in some of its computers aimed at business customers, AMD executives said at CES in Las Vegas on Monday. Dell’s embrace of AMD for corporate PCs — it already uses the chipmaker for consumer devices — is another blow for Intel Corp as the company
ADVANCED: Previously, Taiwanese chip companies were restricted from building overseas fabs with technology less than two generations behind domestic factories Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), a major chip supplier to Nvidia Corp, would no longer be restricted from investing in next-generation 2-nanometer chip production in the US, the Ministry of Economic Affairs said yesterday. However, the ministry added that the world’s biggest contract chipmaker would not be making any reckless decisions, given the weight of its up to US$30 billion investment. To safeguard Taiwan’s chip technology advantages, the government has barred local chipmakers from making chips using more advanced technologies at their overseas factories, in China particularly. Chipmakers were previously only allowed to produce chips using less advanced technologies, specifically
MediaTek Inc (聯發科) yesterday said it is teaming up with Nvidia Corp to develop a new chip for artificial intelligence (AI) supercomputers that uses architecture licensed from Arm Holdings PLC. The new product is targeting AI researchers, data scientists and students rather than the mass PC market, the company said. The announcement comes as MediaTek makes efforts to add AI capabilities to its Dimensity chips for smartphones and tablets, Genio family for the Internet of Things devices, Pentonic series of smart TVs, Kompanio line of Arm-based Chromebooks, along with the Dimensity auto platform for vehicles. MeidaTek, the world’s largest chip designer for smartphones
TECH PULL: Electronics heavyweights also attracted strong buying ahead of the CES, analysts said. Meanwhile, Asian markets were mixed amid Trump’s incoming presidency Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares yesterday closed at a new high in the wake of a rally among tech stocks on Wall Street on Friday, moving the TAIEX sharply higher by more than 600 points. TSMC, the most heavily weighted stock in the TAIEX, rose 4.65 percent to close at a new high of NT$1,125, boosting its market value to NT$29.17 trillion (US$888 billion) and contributing about 400 points to the TAIEX’s rise. The TAIEX ended up 639.41 points, or 2.79 percent, at 23,547.71. Turnover totaled NT$406.478 billion, Taiwan Stock Exchange data showed. The surge in TSMC follows a positive performance