Kwang Yang Motor Co (KYMCO), a leading manufacturer of gasoline-powered scooters, has committed to invest NT$4.4 billion (US$142.4 million) in electric scooters, battery packs, and related infrastructure in Taiwan.
The investment is part of the government’s “Invest in Taiwan” initiative and has been approved by the InvesTaiwan Service Center.
The company aims to build an ecosystem for electric scooters, including 2,600 battery-swapping stations that cover over 80% of Taiwan’s regions.
KYMCO also plans to research battery reuse and recycling as part of its sustainability goals.
The “Invest in Taiwan” initiative has attracted investment of over NT$2.08 trillion so far, with more expected by year-end.
