Giant Forecasts Another Year of Unprecedented E-Bike Growth
TAIPEI, Taiwan – After a year that showed a for many astonishing growth in e-bike sales in Europe, expectations are high on what 2019 will bring. The biggest bike maker in the world (money-wise), Giant Manufacturing Co, made clear statements about this during the Taipei Cycle Show held last month. It’s to be another year with unprecedented growth turning e-bikes into the overpowering trend across Europe.
Giant’s upbeat expectations on its 2019 e-bike sales were expressed by the company’s chairwoman Bonnie Tu and reported on by the Taipei Times.
30 percent growth
Giant expects its sales of electric bicycles to grow 30 percent this year and to contribute up to 25 percent of its total sales; up from last year’s 19 percent. In 2018 Giant shipped about 385,000 e-bikes; close to doubling the number recorded a year earlier. It upped the company’s revenue with 9.4 percent to TWD 60 billion (1.72 billion euro) in 2018. However, Giant’s sales in China fell about 20 percent due to weaker demand amid fading enthusiasm for bike-sharing. According to the Taipei Times report Giant is planning to spend about TWD 5 billion (144m euro) this year on overhauling its headquarters in Taichung, Taiwan and expanding its logistics and manufacturing capabilities in Taiwan.
Giant Light Metal going public in China
The publication also reports that Giant Manufacturing Co is planning to take its Chinese subsidiary public in China. Giant Light Metal Technology (Kunshan) Co, which manufactures finished and semi-finished aluminum industrial products, is to seek approval from Chinese securities authorities to launch a yuan-denominated A-share initial public offering, Giant said in a filing with the Taiwan Stock Exchange earlier this month.