How big is the battery electric vehicles market in Taiwan?

The Battery Electric Vehicles market in Taiwan is expected to generate a revenue of US$773.9m in 2024. This revenue is projected to experience a compound annual growth rate (CAGR 2024-2029) of 6.93%, resulting in a market volume of US$1,082.0m by 2029.

Is Taiwan a good place to buy EV batteries?

Taiwan does not have a large presence in manufacturing automotive EV batteries but is gaining ground in smaller EVs such as E-bikes and E-scooters. These sectors are likewise being heavily pushed particularly in Europe where public transportation is now out of favour with a Covid-wary public.

How much does electricity cost in Taiwan?

The average price for power in Taiwan is NT$2.6/kWh (US$0.09/kWh), while in Japan, which is among the top six countries for electricity prices, the average rate is three times higher, at the equivalent of US$0.27/kWh. “ESS in Taiwan really doesn’t make sense,” he observed.

What is Taiwan's EV charging policy?

The new policy also requires public parking lots to reserve at least 2% of their spaces for EV charging, while private parking lots are asked to allocate at least 1% of total spaces for EV charging. These initiatives are in line with Taiwan’s goal of pushing zero-emission passenger cars and motorcycles to 100 percent market share by 2040.

Are EV charging systems safe in Taiwan?

Taiwan charging operators are increasingly aware of cybersecurity challenges. Cybersecurity vulnerabilities have been identified in past models of EV charging systems, some of which pose risks of remote shutdown and personal information theft.

Should Taiwan invest in solid-state batteries?

Taiwan should also seek joint development opportunities from international manufacturers. By leveraging Taiwan's accumulated experience and technological strength in the ICT sector to help expand the applications for solid-state batteries, Taiwan-based battery suppliers still have a shot at establishing market presence.