Electric vehicle firm signs Taiwan manufacturing deal
Smith Electric Vehicles, a US-based firm with an electric vehicle manufacturing operation in the UK, has signed a letter of intent to form a joint venture with Taiwan commercial vehicle manufacturer Taikang Technology.
Smith Electric and Taikang Technology intend to enter into a licensing agreement, which will cover the assembly and distribution of all-electric vehicles in Taiwan, opening up an important new market for Smith Electric.
The vehicles will be Smith Electric branded and the joint venture will help Smith Electric to strengthen and further build its global manufacturing presence.
There is a 5,000 vehicle commitment, including transformation of a significant portion of the country’s municipal garbage truck fleet.
The initial trucks will be Newton and Edison model vehicles configured for garbage pick-up and transport. Smith Electric will have the sole sourcing and procurement rights for its proprietary Smith Drive, Smith Power and Smith Link components.
“With this letter of intent, we are eager to complete our first ever licensee agreement for the company,” said Bryan Hansel, Smith Electric CEO.
“Smith Electric plans more licensee agreements to support its long-term global growth strategy to meet growing demand for fleet transformation through electrification around the world.”
He believes that short haul urban transport is the current greatest market opportunity for fleet electrification.
Smith Electric operates manufacturing facilities in the US and Newcastle, UK.