Chroma may get orders worth $46 mn from Tesla

TAIPEI, TAIWAN: Chroma ATE Inc., the maker of testing and measurement instruments based in Taiwan, is likely to get orders from Tesla Motors, the manufacturer of electric cars, worth NT$1.5 billion (US $46 million) in 2010.

Industry analysts say that Chroma ATE has obtained about NT$330 million from Tesla Motors in 2009. This means that 26 per cent of Chroma ATE’s total revenues in 2010 will come from Tesla Motors, compared with about 10 per cent in 2009.

Chroma ATE started manufacturing and testing the electro-mechanical control units for the Roadster models of Tesla Motors as also supplying related testing equipment in 2007.

The analysts, citing the business research and consulting company Frost & Sullivan, say that the market for electric vehicles will go up to 1.69 million units in 2014 – increasing at a compound annual growth rate (CAGR) of 19.5 per cent, from 490,000 units in 2008.

The rising popularity of electric vehicles, amidst concerns over environment and surging oil prices, will certainly benefit Chroma ATE, according to the industry analysts.

Chroma ATE said in a statement that its revenues amounted to NT$960 million in the third quarter of 2009 – up by 20 per cent sequentially, but down by 13 per cent on year. The company’s accumulated sales from January 2009 through September 2009 were worth NT$2.295 billion – a drop by 34.6 per cent from 2008.

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