Sersol partners Thailand’s Takuni Group to manufacture, market EV bikes
01 Nov 2022
Sersol Bhd has partnered with Thailand energy giant and electric vehicle (EV) motorbike specialist Takuni Group PCL to anchor business growth plans within Malaysia, Indonesia and Thailand.
The joint venture was inked in Bangkok, announcing Sersol’s investment portfolio diversification to incorporate a Malaysian entity to handle the manufacturing, marketing and distribution of EV motorbike batteries, EV batteries and charging platforms throughout the region.
The JV entails the setup of a battery factory in Malaysia, harnessing energy storage and improving battery quality and efficiency, as well as producing high-quality charging platforms for EV motorcycles and e-scooters.
Sersol managing director Datuk Wira Justin Lim Hwa Tat said the company is meeting the critical needs of the ongoing global energy and climate crisis.
“We are excited about partnering with Takuni Group, an energy giant in Thailand listed on Thailand’s Stock Exchange (SET), with a market capitalisation of 2.87 billion Thai baht.
“Together, we are upbeat about greening the motor scooter and motorcycle segments, as both are currently popular transportation modes across Southeast Asia.
“In merging our resources and capabilities, Sersol and Takuni Group’s competitive advantage is embodied in our ability to implement the collection of carbon credits.
“Additionally, we plan to offer leasing programmes for e-hailing bikes in these three markets,” he said in a statement today.
Lim added that the company expects the new JV company to generate RM900 million in sales across Malaysia, Indonesia and Thailand.
The new joint venture company naturally extends Takuni Group’s strengths in providing comprehensive services, focusing on energy storage.
The deal will also leverage Sersol’s principal business in coatings, thinners and industrial chemicals, providing newly developed paints for the EVs.
Both companies’ diversification charters will consider overall liquidity retention to ensure a sustainable future for their JV company.