Lite-On Clean Energy Technology , a subsidiary of Lite-On Technology Corp. (2301.tw) announced today to invest in Epyon BV(Epyon Power), the leading European supplier of intelligent charging solutions for electric vehicles (EVs). This investment is expected to help Lite-On Clean Energy expand its EV battery pack market share and strengthen its competence in the EV industry, and thus could be of great benefit for other business, like auto-electronics and power system business, in the LiteOn Group.
Fast charging technology plays an important role on driving demands of the EV market. According to the report of Roland Berger Strategy Consultants, 67% of the people interviewed think that fast charging is a “Must-Have” when purchasing an electric vehicle. Smelling the big business opportunities from the upcoming EV fast charging market, Lite-On Clean Energy signed the investment agreement with Epyon Power and stepped into the intelligent charging area to provide the most powerful charging solutions to global customers.
Epyon Power, with its rich experience in battery testing, has successfully set up a fast charging beach head in Europe establishing the first commercial fast charging station for small buses in Europe. Moreover, in Paris Motor Show 2010, Epyon Power has successfully cooperated with Nissan LEAF and rolled out its fast charging system for Electric Vehicles. Epyon’s fast charging systems provide powerful functions enabling charging times limited to 15-30 minutes without damaging battery life. The patented multi-port architecture is designed to meet the needs of onsite installation at many different terrains, i.e., the ultra fast chargers are designed to compact on-street charging stations without disturbing the scenery and fit easily in a local streetscape.
“We are delighted to partner with LiteOn. The company is truly visionary in the emerging clean tech industry and is solid in manufacturing and development, both elements are key to our joint success. With Epyon’s fast charging technology and LiteOn’s market and production proficiency in Asia, we are setting up a more aggressive target to achieve. We look forward to leveraging our partnership on a global basis.”, said Hans Streng, CEO of Epyon Power.
“Epyon Power’s leading EV fast charging technology coupled with its unique value proposition in the electric vehicle market is visionary, and matches Lite-On’s long term strategy. Epyon Power’s geographic location also helps to develop Lite-On’s presence in Europe. Lite-On will closely cooperate with Epyon in delivering integrated charging and energy storage solutions to customers.”, said David Lin, Chairman of Lite-On Clean Energy Technology Corp.
About Lite-On Clean Energy
Lite-On Clean Energy provides a full range of customized design and integration services for electric power systems and stationary storage systems, with high expertise in various key technologies and valuable patents relating to energy storage. Lite-On Clean Energy aims to develop electric power systems as well as stationary storage systems for mobile phone base stations and industrial facilities.
Contact:
Julia Wang
Director, Investor and Public Relations
Tel: +886-2-8798-2888
LiteOnTech.IR@liteon.com
About Epyon Power
Epyon develops, markets and sells battery-charging products and services for optimized fast charging of electrical vehicle batteries. The Rijswijk based company serves customers across Europe from its headquarters in the Netherlands and as well as branch offices in the UK, northern- and southern Europe regions. Together with local installation partners, Epyon offers maximum value for to customers in the charging infrastructure, fleet-and industrial electric vehicle markets.
Contact:
Marcel van de Hoef N2P Communications
Tel: +31(0)6 52 386 747
marcel@n2p.nl
