Smith Electric plans joint venture in Taiwan
Taikang Technology Corporation, a commercial vehicle specialist, will build the Newton and Edison at a new plant, giving Smith additional marketing coverage.
The first three years of production include a commitment to build 5,000 vehicles, which will replace a large portion of Taiwan’s refuse collection trucks, and Taikang is working with the government to secure additional contracts.
Bryan Hansel, Chief Executive Officer of Smith Electric, said: ‘This is another significant milestone for Smith. With this letter of intent, we are eager to complete our first ever licensee agreement for the Company. Smith Electric plans more licensee agreements to support its long-term global growth strategy to meet growing demand for fleet transformation through electrification around the world.’
Formed in North East England but now headquartered in Kansas City, Smith Electric’s clients already include supermarket chain Sainsbury’s, logistics company FedEx and snack food company PepsiCo, who all have its vans and trucks on their fleets.