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Hotai Motor
Hotai Motor Co., Ltd. (Chinese: 和泰汽車; pinyin: Hétài Qìchē) is a Taiwan-based automotive-centric conglomerate. It is the largest automobile company and the second largest household appliance company, as well as one of the largest financial holding companies in Taiwan. Traditionally, Hotai is regarded as one of the top four conglomerates and the oldest amongst the "Big Four" business groups in Taiwan. Hotai Motor can be traced to the founding of its predecessor Hotai Trading Co. in China and Japan in 1937 by Lieh-ho Huang.
As of 2024, Hotai Motor Co. also has subsidiaries engaging in car rental, auto leasing, auto insurances, auto financial services and auto parts and are dominating position on all sectors related to automobiles in Taiwan. In addition, the conglomerate is also the largest air condition company, and one of the largest insurance companies in Taiwan. In 2018, Hotai Motor completed the acquisition of Zurich Insurance Taiwan for US$198 million, making the company one of the leading insurance companies in Taiwan. Kuozui Motors, a joint venture between Hotai (30%), Toyota (65%) and Hino (5%), manufacturers small-sized vehicles, including cars and commercial vehicles, under the brand name of Toyota and Lexus, as well as large-sized vehicles, including trucks and passenger cars, under the brand names such as Toyota and Hino, in Guanyin and Kuanyin, Taoyuan.
As of 2024, Hotai Motor was the largest automobile manufacturer in the country, occupying 34.9% market share, ahead of its rival Yulon Motor Group.
Hotai's predecessor Watai Yoko (Hotai Trading Co.) was founded in 1937 in Kobe, Japan by Lieh-ho Huang in 1937 at the age of 27 to trade textile and sundry items. After the end of WWII. Eyeing the petroleum need in Taiwan in the postwar reconstruction period, Hotai quickly obtained the distribution contract from Exxon Mobil Corporation to ship petroleum from Shanghai and sell it in Taiwan. Also, eyeing the cane sugar need of the China market, Hotai shipped sugar from Taiwan to China and sold it in China. After shipping sugar to China, Hotai shipped petroleum from Shanghai to Taiwan with the same vessel to maximize operating efficiency. Later on, this practice built a good financial foundation for the future of Hotai.
A few years later, eyeing at the development potential of the transportation industry in Taiwan, Huang went to Japan again to discuss business with local industries and formally registered the company in Taiwan in September 1947, creating the modern entity known today. In 1949, Hotai signed the Taiwan sole agent agreement with Yokohama Tire and Toyota Motors (the first overseas distributor of Toyota Motors). Further in 1952, Hotai became the first overseas distributor of Hino Motors, Ltd.
By aiming to strengthen Taiwan's economy with industry, Hotai established Hotai Chemical Engineering Corporation (later known as Wei-Chuan Food Corporation) in 1953 to produce MSG and soy sauce to enrich the everyday lives of people. In believing that the dairy industry could improve the living standard and nutrition standard of citizens and thereby promote rural economic development and compensate food inadequacy, Wei-Chuan established the dairy product department in the beginning of the 1960s out of the company's insistence on establishing a “public company”. This started the diversification of Wei-Chuan into an integrated food manufacturing company. With the food business diversification planning of Huang, Wei-Chuan became the largest food processing and manufacturing company in Taiwan in the 1960s and 1970s. Wei-Chuan was spin-off and sold to Ting Hsin International Group in 1998. One of the joint ventures, Formosa Flexible Packaging, moved back to Hotai Motor Group. As part of the agreement, Wei-Chuan also divest from Wei-Chuan USA and sold its share to the founding family of Hotai.
In 1984 Toyota Motor, Hino Motors, and Hotai Motor established of Kuozui Motors, and quickly build up the company to become the largest automobile manufacturer in Taiwan. Kuozui currently operates two plants and have a total capacity in excess of 200,000 vehicle annual and is one of the few Toyota factories with the capability to build hybrid vehicles.
In the same year, the appliance trading division, which distribute General Electric appliances was spin off into Hotai Development Co.. In 1989 Hotai Development formed a joint venture with Japan's largest electronic retailing, Daiichi Denki, to establish Taiichi Electronic and become the largest appliance and electronic retaining chain in Taiwan. In 1992, Hotai Development signed the distribution right of Daikin Air Conditions and over the next twenty years established the company to be the largest air condition company in Taiwan.
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Hotai Motor
Hotai Motor Co., Ltd. (Chinese: 和泰汽車; pinyin: Hétài Qìchē) is a Taiwan-based automotive-centric conglomerate. It is the largest automobile company and the second largest household appliance company, as well as one of the largest financial holding companies in Taiwan. Traditionally, Hotai is regarded as one of the top four conglomerates and the oldest amongst the "Big Four" business groups in Taiwan. Hotai Motor can be traced to the founding of its predecessor Hotai Trading Co. in China and Japan in 1937 by Lieh-ho Huang.
As of 2024, Hotai Motor Co. also has subsidiaries engaging in car rental, auto leasing, auto insurances, auto financial services and auto parts and are dominating position on all sectors related to automobiles in Taiwan. In addition, the conglomerate is also the largest air condition company, and one of the largest insurance companies in Taiwan. In 2018, Hotai Motor completed the acquisition of Zurich Insurance Taiwan for US$198 million, making the company one of the leading insurance companies in Taiwan. Kuozui Motors, a joint venture between Hotai (30%), Toyota (65%) and Hino (5%), manufacturers small-sized vehicles, including cars and commercial vehicles, under the brand name of Toyota and Lexus, as well as large-sized vehicles, including trucks and passenger cars, under the brand names such as Toyota and Hino, in Guanyin and Kuanyin, Taoyuan.
As of 2024, Hotai Motor was the largest automobile manufacturer in the country, occupying 34.9% market share, ahead of its rival Yulon Motor Group.
Hotai's predecessor Watai Yoko (Hotai Trading Co.) was founded in 1937 in Kobe, Japan by Lieh-ho Huang in 1937 at the age of 27 to trade textile and sundry items. After the end of WWII. Eyeing the petroleum need in Taiwan in the postwar reconstruction period, Hotai quickly obtained the distribution contract from Exxon Mobil Corporation to ship petroleum from Shanghai and sell it in Taiwan. Also, eyeing the cane sugar need of the China market, Hotai shipped sugar from Taiwan to China and sold it in China. After shipping sugar to China, Hotai shipped petroleum from Shanghai to Taiwan with the same vessel to maximize operating efficiency. Later on, this practice built a good financial foundation for the future of Hotai.
A few years later, eyeing at the development potential of the transportation industry in Taiwan, Huang went to Japan again to discuss business with local industries and formally registered the company in Taiwan in September 1947, creating the modern entity known today. In 1949, Hotai signed the Taiwan sole agent agreement with Yokohama Tire and Toyota Motors (the first overseas distributor of Toyota Motors). Further in 1952, Hotai became the first overseas distributor of Hino Motors, Ltd.
By aiming to strengthen Taiwan's economy with industry, Hotai established Hotai Chemical Engineering Corporation (later known as Wei-Chuan Food Corporation) in 1953 to produce MSG and soy sauce to enrich the everyday lives of people. In believing that the dairy industry could improve the living standard and nutrition standard of citizens and thereby promote rural economic development and compensate food inadequacy, Wei-Chuan established the dairy product department in the beginning of the 1960s out of the company's insistence on establishing a “public company”. This started the diversification of Wei-Chuan into an integrated food manufacturing company. With the food business diversification planning of Huang, Wei-Chuan became the largest food processing and manufacturing company in Taiwan in the 1960s and 1970s. Wei-Chuan was spin-off and sold to Ting Hsin International Group in 1998. One of the joint ventures, Formosa Flexible Packaging, moved back to Hotai Motor Group. As part of the agreement, Wei-Chuan also divest from Wei-Chuan USA and sold its share to the founding family of Hotai.
In 1984 Toyota Motor, Hino Motors, and Hotai Motor established of Kuozui Motors, and quickly build up the company to become the largest automobile manufacturer in Taiwan. Kuozui currently operates two plants and have a total capacity in excess of 200,000 vehicle annual and is one of the few Toyota factories with the capability to build hybrid vehicles.
In the same year, the appliance trading division, which distribute General Electric appliances was spin off into Hotai Development Co.. In 1989 Hotai Development formed a joint venture with Japan's largest electronic retailing, Daiichi Denki, to establish Taiichi Electronic and become the largest appliance and electronic retaining chain in Taiwan. In 1992, Hotai Development signed the distribution right of Daikin Air Conditions and over the next twenty years established the company to be the largest air condition company in Taiwan.