KAOHSIUNG, Taiwan -- The machine tool industry has a historic chance for growth thanks to the shift to electric vehicles and demand for more localized manufacturing, the head of the biggest Taiwanese machine tool company told Nikkei Asia.
Yen Jui-hsiung, chairman of Tongtai Machine & Tool, said that while many conventional auto components will disappear in the transition from gasoline to electric cars, an array of new parts and materials are needed for EVs.
