Giant Manufacturing posted a 33 percent drop in net income to 82.05 billion Taiwan dollars (€2.3bn-$2.8bn) for last year because of adverse foreign exchange rates and pricing pressure from OEM clients. Total revenues declined by 3.5 percent to NT$55.2 billion (€1.5bn-$1.9bn), but they were flat in local currencies. The production also fell by 3.5 percent to 4.4 million units. Sales of electric bicycles in Europe jumped by 40 percent, and the momentum should continue in 2018, but sales were flat last year in the U.S. and weak in China. The company expects to resume its growth in the U.S. this year.

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