By Dexter Murray Another Evergreen Vessel Stranded Nearly a year after a cargo ship owned by the Taiwanese shipping company Evergreen Maritime Corp. caused a six-day-long traffic jam in the Suez Canal, another Evergreen ship has run aground off the U.S. coast. The ship, called the Ever Forward, hit ground on March 13 in Chesapeake…
Aggressive local competition and rising geopolitical risk make the contract electronics manufacturing giant’s China dependency more precarious than ever. Hon Hai Precision Manufacturing Co., better known as Foxconn, is the largest private employer in China and has long depended on the country as its manufacturing base. As recently as 2018, Foxconn assembled half of the…
Taiwan Welcomes EU’s New Chip Act Taiwan’s Ministry of Foreign Affairs welcomed the EU’s announcement on February 9 of The European Chips Act, citing its potential to boost Taiwan-EU bilateral investment. The proposed legislation seeks to increase the number of semiconductors manufactured in Europe by expanding cooperation with the world’s leading chipmakers. It will dedicate…
A global shift in the auto industry toward electric has encouraged a number of Taiwanese startups and traditional electronics makers to seek out new market opportunities by focusing more production on EV components and systems. Some, such as tech hardware giant Foxconn, hope to design and sell complete EVs, competing with established industry players. Taiwan…
A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS MSCI Lowers Taiwan Index Weightings Global index provider MSCI published its quarterly index review on February 10. The latest review saw a drop in Taiwan’s weighting in the MSCI Emerging Markets Index and the MSCI All-Country Asia ex-Japan…
Observers say that the signing of several economic agreements with countries in the region could result in new flows of technology and talent, both of which would be to Taiwan’s advantage. While China in recent years has showered Central and Eastern Europe (CEE) with investment pledges and memorandums of understanding (MOU), very few of these…
A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS Entegris Doubles Investment in New Kaohsiung Plant American semiconductor materials company Entegris last week announced plans to double investment in its new Kaohsiung plant. The investment will total around US$500 million over the next three years. Sales of…
A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS First Commercial Geothermal Plant Goes Online The Cingshuei Geothermal Power Plant, Taiwan’s first commercial geothermal power-producing facility, began operations on November 23. The plant’s most significant feature is its ability to produce a 24-hour supply of renewable energy….
Hon Hai Unveils First EV Models At its 2021 Hon Hai Tech Day, Hon Hai Precision Industrial Co. – better known as Foxconn – unveiled three electric vehicle prototypes: The Model C SUV, Model E sedan, and Model T electric bus. The vehicles are part of a new “Foxtron” joint venture between Foxconn and the…
LINE Bank Starts Trial Operations Online banking services company LINE Bank began trials of its Taiwan platform in late March. The trial operations, which were limited to the approximately 700 employees of LINE Taiwan, follow a series of stress, integration, and user tests. If the trial is successful, the online bank will make a full…
