LED automotive lighting module maker Laster Tech has obtained new orders for LED taillight modules designated for Tesla Model 3 and Model Y, with shipments beginning at the end of September 2022 and monthly shipment volume to significantly increase in October 2022, according to the company.
Laster entered the supply chain for Tesla Gigafactory 3 in Shanghai through its main client Changchun Hella Automotive Lighting, the company said.
Mainly due to the reduction in car acquisition tax by 50%, new car sales in the Chinese market have increased a great deal. Laster’s shipments of LED automotive lighting modules to Chinese clients have grown accordingly, the company noted.
Laster focuses on the Chinese market of new automobiles, especially new energy vehicles. Sales of new energy vehicles in China will keep increasing to 15.98 million units in 2026 at a CAGR of 35.1% during 2022-2026, taking up over 50% of future sales, and over 10% of all cars in use by then, Laster cited market forecast.
In addition, Laster is increasing the shipments of LED headlight controllers from its Taiwanese factory to US-based clients, the company said.
Laster has reported consolidated revenues of NT$602.0 million (US$19.6 million) for August, increasing 19.83% on month and 53.94% on year. For January-August, revenues amounted to NT$3.785 billion, growing 8.85% on year.
Fellow maker Excellence Optoelectronics (EOI) has become a supplier for Tesla Model 3, and has additionally landed orders from US-based electric vehicle (EV) vendor Rivian Automotive for seven LED lighting modules for use in Rivian EDV (electric delivery van), EOI said.
Orders received in second-quarter 2022 reached the highest quarterly levels in terms of value and volume, EOI noted. Orders declined much in July due to decreased demand in the summer, but rebounded in August. It is expected to rise further in September and October, EOI indicated.
Orders on hand include LED lighting modules used in Ford Motor F series light-duty trucks, Stellantis North America Ram pick-ups, GMC’s (under General Motors) pick-ups, Porsche and Chevrolet SUV models as well as new EV models launched by Tesla , General Motors, Rivian and Fisker, EOI said. Shipments to the North America market will increase in the second half of 2022, EOI added.
EOI had consolidated revenues of NT$335.9 million for August rising 34.10% on month and 9.33% on year and those of NT$2,536 billion for January-August growing 5.27% on year.