eTreego, an electric vehicle control module design company formally sponsored by the Industrial Technology Research Institute (ITRI) in Taiwan, focuses on the development of electric vehicle control systems, including charging systems, motor control systems, vehicle control systems, and battery management systems. In response to government energy conservation and carbon reduction policies, and facing the new era of electric vehicles, connected vehicles, and autonomous driving, the company collaborates with ITRI to strengthen its technological capabilities and enhance the electric vehicle ecosystem. Through its long-term investment in electric vehicle charging system development and participation in the development of electric vehicle charging standards, eTreego created Taiwan's first automotive charging station and has become a leading manufacturer in the Taiwanese charging station market, serving clients including Toyota, Volvo, CMC, FET, Kymco, and others.
In February of this year, eTreego partnered with Shihlin Electric, Hotai Auto (a subsidiary of the Hotai Motor Group), and Herun Enterprise to establish "gochabar," Taiwan's first professional charging service and operations software company. Gochabar targets three application scenarios: community buildings, corporate facilities, and public infrastructure, actively expanding into the global smart charging market. Currently, eTreego's market presence includes Singapore, the United States, Canada, Japan, Hong Kong, South Korea, Thailand, Malaysia, and other countries.
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Starting July 1st, the Bureau of Standards, Metrology and Inspection will include electric vehicle charging equipment safety in national regulations. New charging stations will be required to obtain VPC certification from the bureau. Qiluxing's entire product line of AC and DC charging stations has been the first to receive VPC certification. eTreego General Manager Jimmy Chien stated that, through a private label approach, they integrated the charging system, license plate recognition, and parking fee collection with gochabar. They assisted Herun Electric in installing electric vehicle stalls in 11 Shin Kong Mitsukoshi Department Stores throughout Taiwan, and with Far EasTone in installing electric vehicle stalls at SOGO and Far Eastern Department Stores. Together, they won the bid to install charging facilities in Hsinchu City's public parking lots.
eTreego is the second-largest supplier of charging equipment for electric bus stations. The Zhinan and Guanghua Bus stations in Shilin incorporate smart charging management features, enabling nighttime charging scheduling and current regulation. eTreego is also collaborating with Tonglian Bus on a grid aggregation control mechanism. Regarding overseas markets, eTreego signed letters of intent in Singapore at the end of August with the School of Energy at Nanyang Technological University and Charged Asia, a Singaporean electric motorcycle manufacturer. The company plans to establish a branch office as its headquarters for its Southeast Asian expansion. Its 350kW fast-charging station received US UL certification in October of this year, with CNS and CE certifications pending. The company expects to have 100 units by the end of the year and over 1,000 by next year. |
In response to market demand, eTreego is developing a variety of new products and pursuing regional product certifications. Target markets include North America, Japan, South Korea, Southeast Asia, and Europe. This will expand the product line fivefold, achieving maximum market coverage and nearly doubling annual revenue, projected to reach NT$400 million this year. The company has successfully achieved its profit target, doubling its previous year's growth. These impressive results will strengthen its position in the capital market, and the company is nearing completion of its pre-IPO fundraising plan to expand its R&D capabilities and strengthen its global competitiveness.
In addition to responding to the national net-zero emissions policy, our future goals include expanding our international presence, developing comprehensive green energy services, and continuously moving toward net-zero transformation through the concepts of "lifestyle transformation" and "industry transformation." We will continue to refine the research and development of electric vehicle devices using innovative business models, and continue to expand the domestic and international electric vehicle charging markets. Adhering to the principle that action is worse than words, we aim to leverage first-class technology and high-end service quality to promote carbon reduction in transportation through both technological and lifestyle aspects, ultimately achieving the sustainable social goal of net-zero emissions by 2050.