Formosa Automobile Corporation
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|Private Company、Limited Liability|
|Founded||20 October 1996|
|Founder||Lee Tzung-Chang (李宗昌)|
|Headquarters||Tunhwa Rd. North No. 201, Songshan, Taipei, Taiwan 105|
Number of employees
Formosa Automobile Corporation (Chinese: 台朔汽車股份有限公司) is a Taiwanese automotive company. Funded by the Taiwanese Formosa Plastics Group, Mr. Lee Tzung-Chang founded the company on 20 October 1996. Formosa Automobile Corporation started after buying the factory from the unsuccessful Sanfu Motor Co., Ltd.. The initial plan includes producing LPG and petroleum vehicles and increase production and management experience in vehicle production.
On 11 November 1999 Formosa Automobile Corporation started the product license cooperation with GM Daewoo to produce the Magnus sedan under the Formosa branding as their first product. The Formosa Magnus was a rebranded Daewoo Magnus sedan running on the SC-1 DOHC 2.0L engine by GM. The Formosa Matiz hatchback was added later based on the rebadged Daewoo Matiz. Additionally, the development of electric vehicles were also planned.
In 2004, Formosa Automobile Corporation shut down the self-owned Formosa brand due to the long term financial loss of the brand.
In 2005, Formosa Automobile Corporation acquired the procuration rights of the Czech Republic Skoda brand of VAG, and introduced the Fabia, Octavia, Superb, and Roomster passenger cars. Due to the high prices of Skoda cars, Formosa Automobile Corporation abstained from the procuration rights of the Skoda brand in 2007 with the aftermarket maintenance transferred to the Formosa Automobile commercial subsidiary.
By the end of 2006, Formosa Automobile Corporation has only the production line of the DAF Trucks brand left with the Formosa Automobile commercial subsidiary in charge. Future plans includes the export sales of South East Asian markets and DAF Trucks Taiwan is only in charge of sales and service.
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