Wistron Invests in Master Transportation, Targeting Electric Bus Projects in India and Southeast Asia

Opening Ceramony of Taiwan Expo 2023 in Mumbai Today.

The Taiwan External Trade Development Council (TAITRA) held the Taiwan Expo 2023 today in Mumbai, India. Among the participants was "Master Transportation," a member of the electric bus national team, in which Wistron (3231) has heavily invested. Master Transportation plans to seize business opportunities in the Indian market through its fast-charging technology. Eric Huang, Chief of Strategies of Wistron Corporation and Executive Vice President of Master Transportation, stated that although various research and analyses are still ongoing, it is confirmed that in the future, Master Transportation will not only participate in large-scale electric bus projects in India but also in other Southeast Asian countries.
Master Transportation was previously announced by the Taiwanese government as a member of the "Electric Bus National Team" and included in the "5+2 Innovative Industries" as well as "2050 Net Zero Emission Industry." Responding to the development needs of the group, Wistron invested heavily in Master Transportation, acquiring a 6.11% stake last year and securing a directorship in the first quarter of this year, continuously improving the group's electric vehicle business.
Eric Huang, Chief of Strategies of Wistron Group and Executive Vice President of Master Transportation explained during a media interview in Mumbai that Master’s fast-charging electric buses, using lithium titanium (SCiB) batteries, offer fast charging, high stability, and long lifespan. These safety features benefit passenger transport operators in achieving a balance between the number of electric buses on the road and operational profits at minimal costs.

Wistron Headquarters.

Chairman of Master, Wu Ting-fa, had previously mentioned that a total of 250 "Smart Electric Buses" would operate domestically in the first quarter of this year. The lithium titanium batteries used are manufactured by Toshiba and is currently under negotiate to seize the opportunity for technology transfer. Master will invest NT$2.5 billion this year to build the first domestic production line in Erlin area of the Central Taiwan Science Park, integrating photovoltaics, smart technology, and intelligent functions. This project, in collaboration with Wistron's Smart Manufacturing and Automation solutions, is scheduled for mass production in 2024.