TAIPEI, Taiwan (BRAIN)—Taiwan's Giant Manufacturing Co, the world's largest bicycle maker by revenue, is planning to invest an initial $36 million (USD) on a new bicycle and electric car plant in eastern China, according to the AFP news organization.
Giant said it will start building the plant, located in Kunshan city of Jiangsu province, before the end of June this year, and it will have an annual capacity of 1.5 million bicycles once it becomes operational in 2011, according to AFP.
"The 36 million dollars will be spent on the bicycle production facilities. In the second stage, we will invest additional funds in electric car manufacturing," company spokesman Hsu Li-chung told AFP.
With its new investment, Giant hopes to profit from China's growing interest in non-polluting transport.
Apart from bicycle and electric car manufacturing, the new Kunshan plant will produce bicycle frames and carbon fiber, Hsu said to AFP.
Giant currently operates five factories in China, producing bicycles, electric cars and aluminum alloy