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【TAIWAN
NEWS】Taiwanese bike companies riding
cycling wave during coronavirus pandemic
Pandemic drives up global demand for
bicycles, particularly in US, Europe
By Huang Tzu-ti, Taiwan News, Staff Writer2020/06/16 10:21
TAIPEI (Taiwan News) — Taiwan's leading
bicycle supplier has emerged as a beneficiary of the coronavirus pandemic,
which is driving up the global demand for bikes as many people shun public
transportation.
The soaring demand has caused Giant, the
world’s largest bicycle manufacturer, to operate at full capacity, said Bonnie
Tu (杜綉珍), chairwoman of the company. Business is
brisk in terms of the more affordable bikes priced at US$1,000 and under, AFP quoted her as saying.
While part of the company’s supply chains
have been disrupted due to the fact that many of its factories are based in
China, it is expected to see its productivity boosted when a large factory in
Hungary begins operations in late June, according to UDN. The project reflects a shift among
Taiwanese manufacturers to reduce reliance on China and move closer to consumer
markets, wrote AFP.
Taiwan has also experienced a surge in
demand for its electric bikes. Last year's exports, totaling US$863 million,
were mostly shipped to Europe, while e-bike exports during the first four
months hit a record high of US$301 million, posting year-on-year growth of 23.6
percent.
In March, sales of bicycles, related
equipment, and repair services in the U.S. doubled compared to the same period
last year, according to market research company
N.P.D. Group. Bike-share company Nextbike, whose business is centered on
Europe, reported a 35-percent rise in annual ridership in April, wrote Fortune.
This
article is cited from https://www.taiwannews.com.tw/en/news/3948684
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