LED automotive lighting module maker Excellence Optoelectronics (EOI) has reported revenues of NT$288.31 million (US$10.38 million) for May, up 0.15% sequentially and 133.88% on year.
EOI attributed the mild sequential growth in May to the short supply of automotive chips, which has undermined the production of many automakers, including those in North America, who count as major clients of EOI.
It expects the tight supply of related automotive chips to ease starting June, which in turn will help ramp up its capacity utilization rate to 80% in the third quarter of 2021, a significant improvement from 60% in April-May.
It also believes that some of its clients in the US will be active in inventory buildups once the tight chip supplies begin to ease, EOI said, expecting its shipments of automotive lighting modules to pick up steam in July and continue through October.
Meanwhile, EOI is undertaking the first-phase construction of its new plant in the US state of Michigan, and two production lines of the plant will come online in the second half of 2021.
The company plans to expand the number of production lines at the Michigan plant to seven in 1-2 years.