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Hotai Motor Co., Ltd. () is a Taiwan-based automotive centric conglomerate. It is the largest automobile company and appliance distributor, and one of the largest financial holding companies in
Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the nort ...
. Traditionally, Hotai is regards as one of the top four conglomerates and the oldest amongst the "Big Four" business groups in Taiwan. Hotai Motor was founded by Lieh-ho Huang, and
Kuozui Motors Kuozui Motors () is a Taiwanese manufacturing company that builds Toyotas under license for the domestic market. It began as a co-ownership of Hino Motors and Hotai Motor. The corporation was spun off and became independent in the 1980s. Toyota ...
, a joint venture between Hotai (30%),
Toyota is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...
(65%) and
Hino Hino may refer to: Places Estonia * Hino, Põlva County * Hino, Võru County ** Lake Hino Japan * Hino, Shiga * Hino, Tokyo * Hino, Tottori ** Hino District, Tottori ** Hino River Transportation * Hino Motors, a Japanese truck manufacturer o ...
(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 Guanyin () is a Bodhisattva associated with compassion. She is the East Asian representation of Avalokiteśvara ( sa, अवलोकितेश्वर) and has been adopted by other Eastern religions, including Chinese folk religion. She ...
and Kuanyin, Taoyuan. As of 2018, 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 Zurich Insurance Group Ltd is a Swiss insurance company, headquartered in Zürich, and the country's largest insurer. As of 2021, the group is the world's 112th largest public company according to ''Forbes'' Global 2000s list, and in 2011 it ran ...
Taiwan for US$198 million, making the company one of the leading insurance companies in Taiwan. As of July 2019, Hotai Motor was the largest automobile in the country, occupying 32.5% market share, ahead of its rival
Yulon Motor Yulon Motor Co., Ltd. () is a Taiwanese automaker and importer. Taiwan's biggest automaker as of 2010, Yulon is known for building Nissan models under license. The original romanization of the company's name is Yue Loong, but in 1992 the company ...
Group.


History

Hotai's predecessor Watai Yoko (Hotai Trading Co.) was founded in 1937 in
Kobe, Japan Kobe ( , ; officially , ) is the capital city of Hyōgo Prefecture Japan. With a population around 1.5 million, Kobe is Japan's seventh-largest city and the third-largest port city after Tokyo and Yokohama. It is located in Kansai region, which ...
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 ExxonMobil Corporation (commonly shortened to Exxon) is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil, and was formed on November 30, ...
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 Wei Chuan Foods () is a Taiwan-based manufacturer of Chinese condiments, canned goods, drinks, and frozen goods. Its more popular, widely recognized products include canned pickles, soy sauce and oyster sauces, and frozen dumplings and wontons. ...
) 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 Ting Hsin International Group () is a Taiwanese-owned corporate group established in 1958. It owns various food brands such as the instant noodle maker Master Kong, Wei-Chuan Food Corporation and Dicos. History Taipei 101 and noodles The compa ...
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 Wei-Chuan USA was founded by the original parent company Wei-Chuan Food Corporation of Taiwan in 1972. Wei-Chuan USA's corporate logo includes five red circles which represent the five basic flavors: sweet, sour, salty, bitter, and umami. Wei-Chu ...
and sold its share to the founding family of Hotai. In 1984
Toyota Motor is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...
,
Hino Motor Hino may refer to: Places Estonia * Hino, Põlva County * Hino, Võru County ** Lake Hino Japan * Hino, Shiga * Hino, Tokyo * Hino, Tottori ** Hino District, Tottori ** Hino River Transportation * Hino Motors, a Japanese truck manufacturer own ...
, and Hotai Motor established of
Kuozui Motors Kuozui Motors () is a Taiwanese manufacturing company that builds Toyotas under license for the domestic market. It began as a co-ownership of Hino Motors and Hotai Motor. The corporation was spun off and became independent in the 1980s. Toyota ...
, 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 General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston. The company operated in sectors including healthcare, aviation, power, renewable energ ...
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 is a Japanese multinational air conditioning manufacturing company headquartered in Osaka. It has operations in Japan, China, Australia, the United States, India, Southeast Asia, Europe, the Middle East, Latin America, and Africa. Daikin is th ...
Air Conditions and over the next twenty years established the company to be the largest air condition company in Taiwan. Today, the founder Leih-ho Huang was also called the “Father of the Modern Economy” in Taiwan for his contribution and involvement in various aspects of business directly connected to everyday life.


Recent Years

In 1999, Hotai established Hotai Finance and Hotai Leasing with
Toyota Financial Services The business known as Toyota Financial Services covers more than 30 countries and regions, including Japan. Financial services operations are coordinated by a wholly owned subsidiary of Toyota Motor Corporation (TMC), Toyota Financial Services ...
owning 33% of the newly established companies. The two companies form further ventures including Hotai Rental, Hotai Auction, Hotai Used Vehicles, 24HR iRent, Hotai Car Sharing, and Hotai Cloud Services with each individual companies becoming the leader in market share. Hotai Finance become the first foreign company to be approved of leasing operating in China and has grown to one of the largest leasing companies in China In 2002 one of Hotai's associated companies, China Insurance Co., was merge with Taiwan's side of the historic
Bank of China The Bank of China (BOC; ) is a Chinese majority state-owned commercial bank headquartered in Beijing and the fourth largest bank in the world. The Bank of China was founded in 1912 by the Republican government as China's central bank, repl ...
and
Bank of Communications Bank of Communications Limited (BoComm) (; often abbreviated as ), is the fifth-largest bank in mainland China. Established in 1908, the Bank of Communications claims a long history in China and is one of the banks to have issued banknotes in mo ...
to form Mega Financial Holding, the largest financial holding company in Taiwan. Hotai became the minority owner of the newly form financial holding company. In 2012 Hotai's subsidiary Carmax Auto Accessories was converted into a joint venture between Hotai and Toyota Customizing & Development Co., and begin to expand into China and Middle East. Between 2014 and 2017, Hotai Motor acquired between 20% to 100% of every dealership in the region and part of China for US$580 million and directed the upgrade of the next generation of Toyota and Lexus customer experience. 2018, in order to enhance customer experience and provide complete services, Hotai completed the acquisition of Zurich Insurance Taiwan with an all-cash offer of US$198 million and rename the company Hotai Insurance Co.. The company quick emerge to become one of Taiwan's leading insurance companies. In 2019, Hotai launch an open market purchase of US$220 million investment into
Toyota Motor is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...
to become minority shareholder of the company, further solidify the relationship of the two companies. In December 2019. Hotai Finance become the largest non-state own company to have a initial public offering in the Taiwan Stock Market, with the first day trading price value the company at over US$2.1 billion and its parent company, Hotai Motor, valued at over US$12 billion. 2020 Hotai merge its iRent Carshare unit with the newly formed Hotai Connected to form its Mobility as a Service (MaaS) arm and entered the Taxi service. The division now offers taxi, carshare, car rental, shuttle, and delivery. In 2021, Hotai established Hotai Auto Body that focus on converting specialty vehicles ranging from firetrucks, buses, construction vehicles and others with the newly built conversion plant.https://tw.stock.yahoo.com/news/公告-和泰車擬參與和興國際汽車股份有限公司現金增資案-090807660.html


Corporate social responsibility

In 1974, Hotai established the Chun Ching Social Welfare Foundation. In 1979, established the Wei-Chuan Cultural-Educational Foundation. And in 1985, established the Chun Ching Pediatric Nutrition Research Foundation. Lieh-ho Huang further established the Huang Lieh-Ho Social Welfare Foundation after retirement to focus on social charity and promote his belief in “a beautiful life and a happy family” for “a peaceful society”. Today, there are more than 10 foundations focusing on different aspects on charity and form the second largest welfare group in Taiwan with an operating budget in 2018 of US$6.4 billion.


Products


Current

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Toyota Sienna The Toyota Sienna is a minivan manufactured and marketed by Toyota primarily for the North American and select East Asian markets. It is named for the Italian city of Siena, in the region of Tuscany. It replaced the first generation Previa van ...
2016—present *
Toyota C-HR The is a subcompact crossover SUV manufactured by Japanese automaker Toyota since 2016. The development of the car began in 2013, led by Toyota chief engineer Hiroyuki Koba. The C-HR is based on the same TNGA-C (GA-C) platform as the E210 ser ...
2017—present *
Toyota Prado The is a full-size four-wheel drive vehicle in the Land Cruiser range produced by the Japanese automaker Toyota. The Prado is one of the smaller vehicles in the Land Cruiser range. From 2009, the Prado is based on Toyota's J150 platform. In ...
1997—present File:2017 Toyota C-HR (NGX10R) Koba 2WD hatchback (2018-08-06) 01.jpg, Toyota C-HR File:2018 Toyota Sienna front 2.9.18.jpg, Toyota Sienna File:2018 Toyota Land Cruiser Prado (GDJ150R) GXL wagon (2018-08-06) 01.jpg, Toyota Prado


Former production

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Toyota Crown The is an automobile which has been produced by Toyota in Japan since 1955. It is primarily a line of mid-size luxury cars that is marketed as an upmarket offering in the Toyota lineup. Introduced in 1955 as the Toyopet Crown, it has served ...
1957—1994 *
Toyota Land Cruiser The (also sometimes spelled as LandCruiser) is a series of four-wheel drive vehicles produced by the Japanese automobile manufacturer Toyota. It is Toyota's longest running series of models. , the sales of the Land Cruiser totalled more than ...
1961—1997 *
Toyota Stout The Toyota Stout is a light truck produced by the Japanese automaker Toyota from 1954 through 1989. The Stout shared its platform with the Toyota Dyna until 1968, when the Dyna was given its own platform, called the Toyota "U". In Japan, it was so ...
1962—1976 File:1979 Toyota Land Cruiser FJ55.jpg, Toyota Land Cruiser File:Toyota crown jzs141 royalsaloon 2 f.jpg, Toyota Crown File:1974 Toyota Stout (RK101) cab chassis (22773571469).jpg, Toyota Stout


See also

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List of Taiwanese automakers This page is about auto makers in Taiwan. This list does not include dealers or importing companies. This page only features vehicles and brands manufactured or assembled in Taiwan. Hotai Motor Hotai Motor, through its affiliate Kuozui Motors, m ...
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List of companies of Taiwan Taiwan maintains a stable industrial economy as a result of economic growth and industrialization during the late 20th century, being dubbed as one of the Four Asian Tigers along with Hong Kong, Singapore and South Korea. It is a member of both ...
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Transportation in Taiwan Transport (in British English), or transportation (in American English), is the intentional movement of humans, animals, and goods from one location to another. Modes of transport include air, land (rail and road), water, cable, pipeline, an ...


References

{{FTSE TWSE Taiwan 50 Auto dealerships Auto dealerships of China