venture into e-mobility in line with Ni Hsin’s ESG drive
Ni Hsin EV Tech sdn bhd (Ni Hsin), have received a Vehicle Type Approval (VTA) from the Malaysian Road Transport Department under the Malaysia Road Transport Act 1987 for two models of their EBIXON electric vehicle (EV) bikes in the personal and commercial categories, TAILG BOLD and TAILG TORQ respectively.
Ni Hsin is a wholly-owned subsidiary of Main Market-Listed Ni Hsin Group and the brand has initially entered into an Original Manufacturing Agreement (OEM Agreement) with Dongguan Tailing Motor Vehicle Co., Ltd. (TAILG) to manufacture EV bikes or EV motorcycles, more commonly referred to in Malaysia.
Under this OEM agreement, TAILG would manufacture the EV bikes and deliver components, spare parts as well as software while Ni Hsin would assemble and test the bikes as well as run quality control on them then commission the bikes in Malaysia.
The International Trade and Industry Ministry (MITI) issued the Manufacturing Licence to Ni Hsin which gave them authority to act as a Licenced Manufacturer and carry out the ‘manufacture and assembly’ of EV bikes at 47, Jalan Taming Dua, Taman Taming Jaya, 43300 Seri Kembangan, Selangor Darul Ehsan.
Moreover, this was effective from 29 October 2021 in pursuance of the Industrial Co-ordination Act 1975 (ACT 156).
Khoo Chee Kong, Managing Director of Ni Hsin EV TECH, stated, “With the VTA approvals, NH (Ni Hsin) EV TECH will commence Completely Knocked Down (CKD) assembly of its EBIXON EV Bikes in NOVEMBER 2022 and thereafter we will launch the EBIXON EV Bikes in the Malaysian market.”
“The venture into the e-mobility business is in line with the Group’s commitment on ESG. The Ni Hsin EV Bikes are the first fully adapted EV Bikes for the domestic personal and commercial market and will create a new standard in clean transport across the country and beyond.” He added.
He also said, “We are targeting to sell 50,000 units of EBIXON EV Bikes in Malaysia and ASEAN in the next three years. Demand for EV Bikes in the region is expected to see explosive growth over the next three to 10 years, surpassing Europe and East Asia.”
“This growth is supported by the region’s e-commerce market, which is valued at US$2.53 billion in 2022 and is expected to have a compound average growth rate of 20.6% over the five-year period to 2027 according to International Trade Administration data. We will work with local partners in the various countries for the assembly and distribution of EBIXON EV Bikes.” He concluded.
We got all this from ACNNewswire and their full article is linked here. Thank you ACNNewswire for the information and images.
