RAC Electric Vehicles Inc.
2237.TWO
Taipei Exchange41.90
TWD
+1.65
- -
RAC Electric Vehicles Inc.
2237.TWO
(Taipei Exchange)
Recent
price
41.90
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- RAC Electric Vehicles Inc. RAC Electric Vehicles Inc. (2237.TWO) develops, manufactures, and sells electric commercial vehicles, primarily all-electric low-floor buses and zero-emission vehicles, in Taiwan. The company offers self-developed models such as the RAC-700 series, Taiwan's first government-certified electric bus by the Ministry of Transportation and Communications; these buses feature high-capacity yttrium lithium batteries, high-power motor drive systems with regenerative braking, advanced battery management systems, and vehicle power control systems, achieving cruising ranges of 260-350 km per full charge while meeting international high-voltage 600V standards and reducing operating costs through lower maintenance compared to diesel buses. RAC integrates industry supply chains for comprehensive vehicle design, power management, charging services, repair, maintenance, and training programs; its buses serve major operators including Taipei Bus, Taoyuan Bus, Hsinchu Bus, Kaohsiung Bus, and others across Taiwan routes like SanXia Taipei University Line, Hsinchu Science Park, Sun Moon Lake Ring Route, and Kaohsiung Qishan Line, with deployments totaling over 140 vehicles; operations extend internationally to the Philippines and collaborative projects in Japan. Founded in 2005 by Raymond Tsai and headquartered at No. 33, Lane 291, Wuqing Road, Taoyuan City, Taiwan, RAC focuses on innovative, environmentally friendly vehicles aligned with government energy conservation and carbon reduction goals, achieving high domestic value-added rates that meet national standards. Recent developments include a 2019 strategic investment from Sumitomo Corporation, which acquired a 6.7-7% stake for JPY450 million (about US$4.12 million) to leverage RAC's manufacturing for electric bus sales and retrofitting in Japan; ongoing partnerships with Sumitomo and Nishitetsu Group for low-cost retrofit EV buses from diesel models, with deliveries in 2022 to Nishitetsu Bus Kitakyushu and 2024 expansions to Tokyo-area operators like Kokusai Kogyo, reducing CO2 emissions by up to 48%; a 2023 collaboration with Danan Bus and TECO Electric & Machinery to launch 48 domestically powered electric buses using TECO's DMIT-certified powertrain, advancing Taiwan's electric bus ecosystem; and plans announced in 2025 to file for an IPO on Taiwan's Emerging Stock Market by year-end, positioning RAC as a leader in smart electric bus growth.