EV charging modules are being aggressively targeted by Taiwan-based Complex Micro Interconnection, which specializes in flexible PCB (FPCB) for military and other specialized market applications. Complex Micro Interconnection anticipates that its revenues from automotive applications will double in 2023.
In an effort to significantly increase its shipments of automotive FPCB, which made up just 3.6% of its terminal applications in the first half of 2022, the company, whose shares will begin trading on the Taiwan Stock Exchange on November 10, has joined the North American Importers Association (NAIA) and plans to establish business sales footholds in Europe.
The company added that LED vehicle lighting modules are anticipated to become another new growth engine for the company, complementing FPCB for military, automotive, and other specialized applications. This will improve the company’s prospects for success.
Since there are currently few rivals in the market for high-margin military applications that demand multi-tasking, high precision, high reliability, shock resistance, and water proofing, Complex Micro has been able to win steady, long-term orders from customers.
90% of company revenues currently come from FPCBs, with the other 10% coming from wire harnesses. With increased shipments for EV charging module applications, the revenue ratio for double-sided and multi-layer FPCBs already increased to 85.5% in the second quarter of 2022 from 74% in 2019.
The company is aggressively exploring for a second manufacturing base in Taiwan in an effort to maintain its growing pace and, over time, fulfill the rising demand from EV customers.