EPMB gets Miti manufacturing licence for electric bikes - MIDA | Malaysian Investment Development Authority
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EPMB gets Miti manufacturing licence for electric bikes

EPMB gets Miti manufacturing licence for electric bikes

03 Oct 2022

EP Manufacturing Bhd (EPMB) is now fully authorised by the Ministry of International Trade and Industry (Miti) to assemble and manufacture two-wheeled electric vehicles (EV) in its upcoming manufacturing facility in Glenmarie, Shah Alam.

EPMB’s wholly owned subsidiary EP Blueshark Sdn Bhd had on Sept 26, received the manufacturing licence from Miti to undertake the activity of assembly of electric bikes. The approval, which was granted under the Industrial Coordination Act 1975, will apply retrospectively from July 25.

The manufacturing licence enables EP Blueshark to import electric bike components in semi knocked down (SKD) and/or completely knocked down (CKD) form and to be assembled and manufactured in Malaysia for distribution into the local and Asean markets. To recap, EPMB has partnered with China-based Sharkgulf Technologies Group Ltd to assemble, manufacture and distribute the latter’s Blueshark-branded two-wheeled EV in Malaysia and other Asean countries.

With the manufacturing licence from Miti, EPMB is set to accelerate its journey to commercially roll out 50,000 units BlueShark two-wheeled EV per year for the initial years. This is responding to immediate regional demands. Thereafter, EPMB will be responding to increase in demands, and capacity accordingly.

EP Manufacturing executive chairman Hamidon Abdullah said it is one step closer to establishing its new manufacturing facility for two-wheeled EV – with the licence granted by Miti.

“We expect to commence the construction of the manufacturing plant in early 2023 and target to complete it by Q3 2023. The manufacturing facility will not only be technologically-advanced but will also employ at least 80% of Malaysians in the workforce and train them via transfer of skills and technology.

“Over the next three to 10 years, the Southeast Asian countries are expected to see significant growth in the two-wheeled EV market, surpassing Europe and East Asia. EPMB will be a leading player in the market to capture this growth potential.”

The National Committee for Vehicle Type Approval (VTA) and Homologation, Road Transport Department of Malaysia had, on Aug 30, approved the VTA for the Blueshark R1 model under the Malaysia Road Transport Act 1987. A certificate for the VTA has been issued to EP Blueshark. The VTA approval was secured about a month after EPMB received conditional approval from the government for constructing its maiden manufacturing plant for electric two-wheelers.

Meanwhile, on Sept 19, EPMB announced that it had signed an investment agreement with CIS Pride Fund SPC and Sharkgulf, whereby the fund will be investing a minimum of US$50 million (RM232 million) in establishing battery swapping infrastructure for the Blueshark-branded two-wheeled EV.

The group has also signed another investment agreement with Abu Dhabi-based Siraj Holding LLC and Sharkgulf, whereby Siraj will invest stagewise a minimum US$50 million in procuring Blueshark-branded two-wheelers from EPMB and leasing them to Malaysians from the B40 category, offering them gig employment opportunities for additional income.

In addition, EPMB has entered into a memorandum of understanding with Dubai-based SJQ Investments LLC and Sharkgulf to jointly explore the expansion and development of two-wheeled EVs for the Middle East and African markets.

Source: The Sun Daily