H1 Revenue Reaches 80% of Last Year, Full-Year Target NT$3 Billion
Chuang Yi Energy, one of Taiwan's top three electric bus suppliers, is accelerating its overseas market expansion and extending its battery technology into the energy storage business. The company held a media briefing on the 28th, with Chairman Huang Chen-sheng and Vice General Manager Chiu Wei-chen attending to explain its operational plans. Chuang Yi's revenue in the first half of this year reached NT$1.664 billion, equivalent to about 80% of last year's full-year total, with full-year revenue estimated at about NT$3 billion, and plans for a public issuance and TPEx Emerging Market listing in 2027 and a full listing in 2028.
Core System Export Model, Replicating Taiwan Experience Overseas
Founded in 2011, Chuang Yi Energy started with lithium iron phosphate cathode materials and extended into battery systems, electric buses and energy storage. Its headquarters and production base are in Taoyuan, with chassis manufacturing, vehicle assembly and pre-delivery inspection lines, as well as smart charging, fleet management and after-sales maintenance. Since entering the Taiwan market in 2016, the company has sold more than 900 e-buses, with cumulative mileage exceeding 55 million kilometers and an average availability rate of over 99%, ranking among the top three e-bus suppliers in Taiwan as of 2025, with customers including Capital Bus, Taipei Bus, Hancheng Bus and Central Taiwan Bus.
Chiu Wei-chen noted that the company independently develops software for battery management, vehicle control, fleet management and energy management, and monitors vehicles at home and abroad through its control center. When data such as motor or battery temperature is abnormal, the system can notify engineers to arrange for vehicles to return for inspection, reducing the risk of on-road breakdowns. After accumulating experience in Taiwan, the company has deployed in India, Malaysia, Singapore, Indonesia and Dubai, with deliveries extending to Palau and the Caribbean market. In Indonesia, it delivered 8-meter e-buses during the 2022 G20 Summit in Bali, later supplying different sizes and high- and low-floor models; its India models have been certified and received orders for delivery; in Malaysia, with new projects being released, orders are expected by the end of this year.
Selling Systems, Not Whole Buses, Leveraging Local Manufacturing for Competitiveness
Chuang Yi's overseas expansion is not based solely on whole-vehicle exports, but on providing design, systems and key components, combined with local body builders for manufacturing. Items that can be supplied locally, such as iron parts, doors and glass, use local resources to meet local manufacturing and employment requirements in each country and improve competitiveness against Chinese makers. The company said reliability is the most important feature of such products, as both e-buses and energy storage require long-term operation, so it works with local partners, combining customization, monitoring management and after-sales maintenance. For overseas service, Malaysia supports Southeast Asia, India supports Africa and Bangladesh, with a site planned in Central America next year. Looking to 2027, vehicle shipments are expected in Central America, parts supply will advance in Malaysia, Indonesia and India, and African solar-storage projects are expected to contribute revenue.
Liquid-Cooled Batteries Extended to Storage, Share Targeted to Double Next Year
Beyond e-buses, Chuang Yi is extending its liquid-cooled battery systems and hardware-software integration capabilities to battery energy storage systems, smart charging and energy management. Energy storage accounts for about 10% of business this year, with hopes to raise it to 20% next year. Current products include 5MWh and 6.25MWh large container-type storage, as well as small and medium commercial integrated cabinets, for solar storage, peak load management, EV charging stations, demand response and automatic frequency control. Backup power references include UPS systems at Taiwan High Speed Rail Banqiao, Nangang and Tainan stations, and Chunghwa Telecom base station backup power. Chiu cited the Changhua e-bus depot as an example, where storage supports charging demand, helping operators control peak power use and reduce the risk of exceeding contracted capacity. As the business expands, the company has launched capital market plans, with related arrangements to be discussed with accountants and securities firms, while overseas order progress and storage project implementation will be key indicators for future growth.