The Directors of MIKOH Corporation Limited (MIK) are pleased to announce that as of 15 May 2012, Taiwan began using an eTag which incorporates the MIKOH break-on-removal technology, for electronic toll collection on the country’s highways. The MIKOH tamper evident technology will prevent the eTag from being-transferred between vehicles once it’s been adhered to the surface of the headlamp or windshield.
Far Eastern Electronic Toll Collection Company (FETC) will be investing a total of NT$1 billion or US$35 million to install the passive RFID eTag system in Taiwan. This will eventually replace the current infra-red based system which has had a very poor take up because the cost of infra-red unit was previously borne by the motorist.
It is expected that all 6 million vehicles in Taiwan will eventually be fitted with the new eTag. The new eTag will be installed free of charge up to the end of 2012 for all motorists and after that, the cost of the eTag will be NT$200 or US$6.78. FETC plans to remove tollbooths by 2013 and move exclusively to using the eTag as a free flow and open road toll collection system.
MIKOH has so far received royalties of US$279,609.75 from the sale of eTags to a small pilot project in Taiwan that lasted approximately 6 months and now that the project has officially gone live, expects to receive significantly more royalties.
