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Electric car part suppliers boosted by Tesla’s Q4 shipments

Taipei, Jan. 15 (CNA) Shares of domestic electric car component suppliers to U.S.-based auto maker Tesla Motors Inc. got a boost Wednesday morning after the electric car maker reported better-than-expected shipments in the fourth quarter, dealers said.

With Tesla aiming to penetrate the Asian market this year, many investors have high hopes that Taiwanese suppliers will continue to benefit from continuing growth by the U.S. car maker in 2014 after a good 2013, they said.

As of 11:40 a.m., shares of Hota Industrial Manufacturing Co., a car gear set supplier, had added 3.47 percent to NT$46.25 (US$1.54), while shares of wire harness maker BizLink Holding Inc. had risen 7 percent, the maximum daily increase, to NT$119.00.

The weighted index on the Taiwan Stock Exchange was up 0.79 percent at 8,614.28.

“Tesla’s higher-than-expected shipments in the fourth quarter served as a driver of these local suppliers’ share prices this morning,” Asia Securities Investment Consulting analyst Chang Chih-cheng said.
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