cens logo

Lite-On Tie Up With Epyon Power on Fast Charging Solutions for EVs

2011/02/24 | By Quincy Liang

Taipei, Feb. 24, 2011 (CENS)--With an eye on the lucrative rapid-charging technology, Lite-On Clean Energy Technology , a subsidiary of Taiwan-based Lite-On Technology Corp., recently announced it would invest in Epyon BV(Epyon Power), a leading European supplier of intelligent charging solutions for electric vehicles (EVs).

This investment is expected to help Lite-On Clean Energy expand its EV battery-pack market share and strengthen its competence in the EV industry, thus benefitting automotive-electronics and power system businesses of the Lite-On Group, the company said.

Fast-charging technology now plays an increasingly important role in the EV market. Citing statistics compiled by Roland Berger Strategy Consultants, Lite-On Clean Energy pointed out that 67% of the people polled think that fast charging is a "Must-Have" when purchasing an EV.

Epyon Power, with its rich experience in battery testing, has set up a fast charging beachhead in Europe, the first commercial fast charging station for small buses in Europe. Moreover, in Paris Motor Show 2010, Epyon Power has joined the Nissan LEAF battery electric vehicle (BEV) project to turn out its fast charging systems for EVs.

Epyon's fast charging systems provide powerful functions allowing 15-30 minutes of charging without damaging battery life. The patented multi-port architecture is designed to meet the needs of onsite installation at many different terrains, with the ultra-fast chargers suitable for compact on-street charging stations without disturbing the scenery.

Hans Streng, CEO of Epyon Power, said that with Epyon's fast charging technology and Lite-On's marketing and production proficiency in Asia, the two parties are setting up a more aggressive target to achieve. "We look forward to leveraging our partnership on a global basis," he added.

"Epyon Power's leading EV fast charging technology coupled with its unique value proposition in the electric vehicle market is visionary, and matches Lite-On's long term strategy. Epyon Power's geographic location also helps to develop Lite-On's presence in Europe. Lite-On will closely cooperate with Epyon in delivering integrated charging and energy storage solutions to customers," said David Lin, Chairman of Lite-On Clean Energy.

The "New Power" has been chosen by Lite-On Group as one of its three major future-development axles slated for special development. The new business is expected to generate some NT$5 billion (US$166.67 million) revenue in 2013. Lite-On Clean Energy is scheduled to go public in the next five years.