Taiwan’s largest petrochemical conglomerate, Formosa Plastics Group, together with Hua-chuang Automobile Information Technical Center Co. Ltd., an affiliate of automaker Yulon Group, will jointly develop carbon fiber electric car, according to the Ministry of Economic Affairs Dec. 9.
The partners aim to have their first vehicle ready for testing in two years and forecast revenues of NT$100 billion (US$3.3 billion) on an annual production run of 200,000 cars, the MOEA said.
“Given that the batteries powering electric cars weigh up to 350 kilograms, using the lightest possible materials when constructing these vehicles is a must,” the MOEA said. “Carbon fiber bodies allow automakers to improve fuel efficiency and reduce carbon dioxide emissions.”
T. J. Huang, senior vice president of FPG, said the group has invested NT$4 billion in expanding its carbon fiber output. “Total production is expected to reach 7,450 metric tons by the end of this year, with a second line lifting this to 8,750 metric tons in 12 months time,” he added.
FPG is the world’s fourth largest manufacturer of carbon fiber behind Japan’s Toray Industries Inc., Toho Tenex Co. Ltd. and Mitsubishi Rayon Co. Ltd.
Hua-chuang President Liu Yi-cheng said he is excited to be working with FPG and expects big things from their collaboration. “We believe this project will help Taiwan develop a strong brand in carbon fiber electric cars.”
