Taiwan’s Delta Electronics logs first profit in EV segment

TAIPEI — Delta Electronics’ investment in electric vehicles has started paying off after 15 years, as the world’s leading power solutions provider reported the first-ever quarterly profit in its EV segment.

Robust demand for EV power supplies helped the Taiwanese tech manufacturer’s overall net profit grow 14% on the year to 6.9 billion New Taiwan dollars ($224.3 million) in the first three months of this year, offsetting the weakness in consumer electronics. Revenue climbed 13% on the year, to NT$92.9 billion.