Hotai Motor Co, Taiwan’s distributor of Lexus and Toyota, supports new government restrictions on cheaper auto parts from China to prevent unfair competition.
Hotai spokesman Lai Chih-wei said the company will comply with rules requiring automakers to gradually increase the use of locally sourced components, starting at 15% and reaching 35% by the third year.
Despite the changes, Hotai aims to sell 170,000 vehicles this year, surpassing last year’s record of 166,000 units. First-half net profit fell 3% year-on-year to US$368.8 million, down from US$379.9 million in 2022.
