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Taiwan machine tool maker sees EV boom as historic growth chance

Tongtai chairman says shorter supply chains are future of industry

Tongtai Machine & Tool Chairman Yen Jui-hsiung: "There will be new demand, and the key is whether you are ready to catch it or not."

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.

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