On August 10th, Lithuanian company that develops and manufactures electric buses “Dancer” UAB “Vėjo projektai” and the largest manufacturer of passenger and cargo vehicles operating in Taiwan “Tangeng Advanced Vehicles Co” (TAV) have signed a Memorandum of Understanding. The signing of the document was planned during the Lithuanian delegation visit to Taiwan.
In the perspective of climate change, increasingly strict environmental protection requirements and new standards affect the currently extremely polluting transport sector in all countries of the world. Therefore, the agreement between Lithuanian and Taiwanese companies is signed in order to strengthen the competitive advantage in the market and at the same time meet the demand for electric vehicles and battery modules in the European Union, Asian countries and the United States of America.
According to Alvydas Naujėkas, general director of UAB “Vėjo projektai”, this Memorandum of Understanding is the first real business agreement between Lithuania and Taiwan, which brings new opportunities to both parties.
“The electric transport sector in the world is growing at an unprecedented pace, therefore, in order to meet the market needs for green and innovative transport, the cooperation of technological production companies is necessary to ensure long-term success,” says A. Naujekas.
According to the Memorandum of Understanding, both parties to the agreement intend to create a joint venture that will enable the further development of electric vehicle and battery module technologies and ensure the expansion of electric vehicle production by establishing a production unit in Lithuania.
Jonathan Ho, Chairman of “Tangeng Advanced Vehicles Co”, emphasized that, first of all, the company will work together with UAB “Vėjo projektai” in developing the liquid cooling technology for battery modules and will establish a battery assembly plant in order to ensure the production needs of European electric vehicles.
“Our company’s long-term cooperation with Volvo Bus and Bombardier companies has allowed us to improve technologies and achieve the highest quality of products, so we believe that this cooperation with the Lithuanian company will not only help achieve business goals, but also contribute to sustainability and environmental protection goals,” added J. Ho.
Lithuanian and Taiwanese companies also intend to cooperate in the field of electric vehicle sales and to implement innovative sales models more widely, offering complex bus operational lease and full service services on the market. In addition, the signing of the Memorandum of Understanding will create the conditions for attracting additional financial capital by submitting applications under the Taiwanese Central and Eastern European Support Funds.
The signing of the Memorandum of Understanding is the first step in developing long-term cooperation between Lithuanian and Taiwanese companies in the field of electric transport and strengthening the technological leadership, as well as competitive advantage of both parties in the market. The principles of joint venture, production capacity and investments will be discussed in more detail in further agreements between UAB “Vėjo projektai” and “Tangeng Advanced Vehicles Co”.