The increase in revenue reflects a steady recovery in the global auto market, which boosted the company’s shipments of machinery parts and gear transmission products last month, the company said on Tuesday. The logo of Hota Industrial Manufacturing Co is pictured at one of the company’s plants in the Chiayi Dapumei Precision Machinery Park on July 24, 2019. “We expect more EV revenue contribution to kick off from 2021 as some projects have been delayed in 2020 due to COVID-19,” Daiwa said in a note last month. The company aims to start production at the new plant in the second half of this year and supply components for EVs for US and European clients. It already operates two plants in the same industrial park.

Source: Taipei Times February 10, 2021 15:56 UTC