Morris Li Announces TECO's 'Four-Pronged Approach' to Power a Sustainable Future for Customers
Since assuming office on May 31, TECO Electric & Machinery Co., Ltd. (Stock code: 1504) Chairman Morris Li met with the media for the first time today (15th) and officially unveiled four strategic directions: electrification, energy conservation and carbon reduction, green energy, and key regional development. Chairman Li emphasized that under the global sustainability trend, Teco is committed to being customer-centric, actively supporting enterprises in their green transformation. The goal is to transform Teco from a traditional equipment provider into a provider of sustainable power solutions and value-added services, creating new growth momentum for the company.
Chairman Morris Li, who has extensive experience in multinational management, has successfully navigated numerous innovations and crises in the financial industry. He considers joining Teco a meaningful challenge. Morris Li highlighted that Teco boasts a long-established brand, high-quality products, and a comprehensive international presence. Building on this strong foundation, he aims to strengthen the cohesion of the management team, continuously enhance the competitiveness of core products, and optimize production and sales execution. His goal is to position Teco as a trusted leading brand in Asia and North America.
The four strategic directions revealed for the first time today include the following: In the area of electrification, Teco will transform into an industrial electrification integrator by promoting opportunities for VB-Skid (mobile pre-installed electrical platforms) and E-House (pre-installed electrical rooms). The company Power Company will also expand its market share in electric buses, electric commercial vehicle power systems, and charging equipment, and enter the electric propulsion supply chain for marine vessels. Additionally, Teco mentioned for the first time its plans to enter the transformer markets.In the green energy sector, Teco plans to strengthen its already significant market share in onshore substations for offshore wind power, energy storage system engineering, and Taipower's grid resilience plan. Teco will also invest in hydrogen energy projects, including fuel cell applications and hydrogen refueling station engineering, while participating in virtual power plant investments and electricity retailing.As for Teco’s core products and solutions focused on energy conservation and carbon reduction, the company will prioritize "whole-factory energy-saving retrofits" and "maintenance and warranty services," along with industries related to " high-efficiency refrigeration and freezer technologies," "air conditioning," and "waste heat recovery".Finally, in key regional development, Teco emphasized its commitment to deepening its presence in the North American market and strengthening its new team in Southeast Asia.
Chairman Morris Li stated that through a comprehensive strategic plan, Teco will focus on developing high-margin products and high-potential, forward-looking businesses while concentrating on core competitive markets. The goal is to assist customers in their green transformation, working together with Teco towards a sustainable future.