IPO in 2025 under Planning, Master Targets the Japanese, Indian, and Singaporean Markets

Master Transportation Chairman Wu Ting-fa pointed out that due to supply chain disruptions last year, the delivery schedule for electric buses was delayed. In such circumstances, it is expected to deliver 288 vehicles in the first half of this year, with a total of 300 to 500 vehicles for the whole year. There are opportunities to enter the Japanese, Singaporean, and Indian markets, and the company also plans to conduct an IPO in 2025.

Shin-Shin Bus’s electric buses on Taipei Roosevelt Rd. Metro Bus Line began operation today, marking the first time it has used electric buses from Master Transportation. Wu Ting-fa stated that in 2022, Master Transportation delivered a total of 90 vehicles due to supply chain disruptions. Currently, there are signs of relief in the shortage of automotive chips, and the company has resumed deliveries gradually. It is expected to deliver 288 vehicles in the first half of the year to operators in Changhua, Kaohsiung, Taipei, Yilan, Taichung, and other regions.

In preparation for future developments, Wu Ting-fa stated that Master Transportation has established an electric bus park in Erlin, Changhua, with an expected investment of 2.5 billion NTD (80 million USD). Cathay and Wistron have already participated, and construction of the park is set to begin in May of this year.

Regarding foreign markets, opportunities exist in Singapore, Japan, and India. Master General Manager Wu Chung-hsi pointed out that in Singapore, the government purchases vehicles for private operators to operate. Currently, trials are underway, and if successful, 100 to 200 vehicles will initially enter the market, with the possibility of increasing purchases later. Additionally, Singapore serves as a benchmark for the Southeast Asian market, so entering Singapore presents an opportunity to break into other markets in Southeast Asia.

In Japan, there are no local manufacturers of electric buses, so they are all sourced from abroad. Wu Chung-hsi stated that Japanese companies will come to Taiwan in April to discuss cooperation projects, and he is very optimistic about the potential demand in the Japanese market.
In India, railway companies are in contact for cooperation. Wu Chung-hsi will travel to India in April. Although there is competition from local and mainland Chinese companies in the Indian market, the market size is large. 500 electric buses from Master have been approached, with plans to initially operate 100 vehicles and continue deliveries upon successful operation.