Japan's Toyoda Trike to rollout mobility solutions in Malaysia - MIDA | Malaysian Investment Development Authority
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Japan’s Toyoda Trike to rollout mobility solutions in Malaysia

Japan’s Toyoda Trike to rollout mobility solutions in Malaysia

30 May 2022

Japan’s developer and manufacturer of pure electric vehicle (EV) and electric bicycles, Toyoda Trike Inc (Toyoda), has finalised its plans to roll out its mobility solutions in Malaysia.

This initiative follows a productive meeting with Malaysia’s prime minister Datuk Sri Ismail Sabri Yaakob and International Trade and Industry senior minister Datuk Seri Mohamad Azmin Ali in Japan.

Asia Development Capital Co Ltd (ADC), one of the major shareholders, holding 36 per cent of Toyoda, was also present.

ADC is a public listed company on the Tokyo Stock Exchange and has a market capitalisation of JPY9.4 billion (RM320 million).

Toyoda chief executive officer Toyoda Misako, the great-granddaughter of the founder of Toyota Corporation, together with ADC chief executive officer Anselm Wong led the briefing with Azmin on Toyoda’s innovation, competitive advantage, and unique value proposition.

Together with the Toyoda family, the fourth generation of the founder of Toyota Corporation, the largest automobile manufacturer globally, they own more than 80 per cent of the company.

“We are excited to roll out our solution in Malaysia following a discussion with Azmin.

“It was a productive meeting where it helped both ADC and Toyoda understand how to expand our footprint in Malaysia and the Southeast Asia region,” Wong said.

According to Wong, ADC’s solution will focus on an efficient, sustainable, and environmentally friendly alternative to mobility and connectivity, emphasising the last-mile delivery in urban areas.

“There are many potentials to deploy our electric bicycles and motorcycles, which use the synchro system.

“This will help enhance the safety features of users and minimise the risks of accidents. In addition, the safety feature will encourage more users to use this solution. This will also solve the last-mile connectivity problem for Malaysia’s existing public transportation.

“We are confident that we can help expand the availability and easy access to mobility for all Malaysians,” Wong said.

To accelerate the adoption, Toyoda plans to appoint Sand Nisko Capital Bhd (SNC), a Bursa Malaysia main market listed company, as its marketing arm to drive the adoption of Toyoda’s mobility solutions.

“The convenience of having a car could deter people from adopting carbon-neutral mobility solutions that leverage existing public transport infrastructure.

“However, with more education, understanding, knowledge, and awareness of our carbon-neutral mobility solutions, I am confident that Malaysians will adopt this environmentally friendly alternative to mobility.

“This is why we must collaborate with a local partner with a strong logistics, warehouse, and marketing team in Malaysia. From our preliminary reviews, we plan to appoint SNC to be our marketing arm once the details of our collaborations are finalised,” Wong added.

Going forward, Toyoda is also looking to help Malaysia to adopt similar battery swapping solutions at convenience stores to push for the use of electric bikes in the country.

Through collaboration with a local partner and the Malaysian government, Toyoda will pave the way for more mobility solutions in the future.

Source: NST