Taiwan Electric Vehicles and Charging Stations
On June 13, 2023, Taiwan’s Ministry of Transportation and Communications (MOTC) announced plans to accelerate the establishment of public charging stations, allocating a special budget of $32 million through the Forward-looking Infrastructure Development Program. Between 2023 and 2024, the government aims to install 4,000 slow-charging stations and 400 fast-charging stations around the island. To spur this development, the central government is offering subsidies to local governments and agencies under MOTC of up to $26,666 for the installation of each slow-charging connector and up to $66,666 for each fast-charging connector. The new policy also requires public parking lots to reserve at least 2% of their spaces for EV charging, while private parking lots are asked to allocate at least 1% of total spaces for EV charging. These initiatives are in line with Taiwan’s goal of pushing zero-emission passenger cars and motorcycles to 100 percent market share by 2040.
The export opportunities created by Taiwan’s new EV legislation are not limited to auto and charging infrastructure manufacturers. Taiwan charging operators are increasingly aware of cybersecurity challenges. Cybersecurity vulnerabilities have been identified in past models of EV charging systems, some of which pose risks of remote shutdown and personal information theft. To mitigate these concerns, charging station operators are advised to conduct regular software and hardware updates, and to bolster their cybersecurity systems. This proactive approach ensures a secure and reliable charging network, instilling confidence in EV owners and fostering a conducive environment for EV adoption.
As EV acceptance in the Taiwan public continues to rise, the insurance and maintenance industries are poised to expand significantly. These opportunities apply not only vehicles but also the charging stations themselves. This unprecedented growth presents ample opportunities for businesses, including U.S. firms, seeking to tap into Taiwan’s EV segment.
For more information on market opportunities in Taiwan, please contact Madison Yao, Commercial Service Taiwan, at Madison.Yao@trade.gov.