January 3, 2001 Giant Manufacturing Co., the top bicycle maker in Taiwan, last month announced that the company has made an agreement to cooperate with Matsushita Group of Japan to produce battery-powered bicycles in Taiwan. The Matsushita Group is a leading producer of electrical items for both home and industrial use with extensive operations worldwide. A Giant spokesperson indicated that the company will use the brand name "Panasonic" for the cooperatively-produced bicycles sold in Japan, while the brand name "Giant" will be used for those sold elsewhere in the world market. The most advanced battery technology will be employed for the new bicycles. Starting early in 2001, Giant will purchase components such as batteries, motors and chargers from Matsushita for fitting on the battery-powered bicycles. Matsushita's extensive worldwide distribution channels are expected to substantively aid the sales of the bicycles in international markets. Giant last year entered into cooperation with the Ford Motor Co. of the U.S. for R&D of "Th!nk" battery-powered bicycles, with the first shipments of these products already having been made. The Giant spokesperson indicated that sales statistics for the Th!nk bicycles should be available sometime in mid-January. Giant's latest revenue figures for the year up to the end of November 2000, total NT$12.87 billion (US$390 million). This is an 18.59% increase over the same period last year. (back to top) |