URE Will Launch Hydrogen-Fueled Motorcycle in Q4

published: 2019-06-24 11:29 | editor: | category: News

United Renewable Energy Co., Ltd. (URE), a leading PV power firm in Taiwan, will roll out a hydrogen-fueled motorcycle in Q4, announced Hung Chuan-hsien, chairman, at the shareholders' meeting on June 16.

Hung pointed out the motorcycle's performance will equal that of a 125 cc gasoline-fueled model, with a price tag comparable to a Gorogo electric motorcycle. URE will function as an assembler, with key components and parts to be obtained from foreign suppliers. Given the plan of Gogoro to launch an economy model and the expected cut on subsidy for electric cars by the Ministry of Economic Affairs, URE may revise its strategy, including pricing and specifications. The plan is part of the company's effort to diversify its operation, including engagement in energy storage, in response to the serious recession of the domestic PV power industry, which has prompted many companies in the line to transform their operation or even shut down.

In fact, URE's performance has improved significantly, racking up revenue of over NT$10 billion in the first half, which is expected to top NT$20 billion for entire 2019. Many large-scale PV power projects will be settled in the second half, giving the company's business a strong boost. Pan Wen-hui, president, pointed out that the company will outsource production of PV modules to Chinese firms, so as to cut production cost and enhance international competitiveness.

The company is also extending its reach to the downstream sector, including development of PV power stations, EPC design, repair and maintenance, and even financing, in order to become a PV power firm with an all-round operation. The company's large-scale PV power storage products are expected to pass U.S. safety inspection and certification in September, at the earliest, before global shipment.

Meanwhile, after hitting the nadir in May, PV product prices are expected to rebound, especially in view of the policy of various countries continuing to support PV power development.

(Collaborative media: TechNews, first photo courtesy of Zero Emission Resource Organisation via Flickr CC BY 2.0)  

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