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EV Market in High Gear is Expected to Drive up Demand for Boltun's Fasteners
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2022-10-12
The U.S. and China are going at full steam on pushing EV development and have rolled out multiple subsidies. EU has approved forbidding carmakers to sell fuel cars starting from 2035. These factors motivate carmakers to roll out new energy cars and BEVs, which puts the global EV market into high gear.
Boltun has an edge in EV fastener know-how and it develops new EV clients, products and extends supply to tier 1 suppliers of battery modules and electronic control systems. It also taps into electronics screws. Therefore, Boltun expects carmakers' continuous EV development and the rise of new EV makers will continue to drive up demand for Boltun's fasteners.
To cope with the upcoming demand, Boltun will continue to expand capacity of the existing plant and has planned a new plant in Tainan City of Taiwan slated for launch in 2024. Boltun grossed record-breaking NTD 7.42 billion in the first 8 months of 2022, up 11.88% from the same period last year. The full-year revenue is also expected to break records.
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Boltun
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