Electric bikes a silver lining in gloomy year

Taipei Times
Date: Mar 23, 2017
By: Kuo Chia-erh / Staff reporter

Giant Manufacturing Co Ltd (巨大機械), the nation’s largest bicycle maker, yesterday

A model displays a Liv bicycle, Giant’s new line of bikes for female consumers, on the opening day of the four-day Taipei International Cycle Show at the Taipei World Trade Center yesterday. Photo: CNA

said it expects revenue contribution from electric bikes to reach 10 percent by 2022, compared with last year’s 7 percent.

The target has been set because of robust demand for electric bikes in Europe, despite the company’s gloomy performance last year.

Giant had a difficult year last year, with cumulative revenue down 5.57 percent to NT$57.01 billion (US$1.87 billion) from the previous year, according to a company filing with the Taiwan Stock Exchange.

In the first three quarters of last year, the company saw its net profit fall 20 percent year-on-year to NT$2.4 billion, or earnings per share of NT$6.4, the company’s latest data showed.    [FULL  STORY]

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.