Delta Electronics Inc. predicted rapid growth at its fledgling electric-vehicle component business for this year and beyond, joining a bandwagon of Taiwanese suppliers bulking up their automotive muscles as tech giants including Apple Inc. venture into the car market.
“Our EV-related business will grow at least at a double-digit rate over the next few years,” Delta Chairman Yancey Hai said in an interview on Wednesday. “We will further integrate our existing power products into modules and optimize them to make it easier for EV makers to build their vehicles.”
Automotive customers accounted for a small fraction of Delta’s revenue in 2020, but are becoming increasingly important for growth. Delta and peers including Foxconn Technology Group are betting on electric cars as the next big thing as demand for PCs and smartphones, the main products that the Taiwanese suppliers have long depended