Sersol, Takuni seal electric motorbike, scooter joint venture - MIDA | Malaysian Investment Development Authority
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Sersol, Takuni seal electric motorbike, scooter joint venture

Sersol, Takuni seal electric motorbike, scooter joint venture

27 Dec 2022

Malaysia, Thailand and Indonesia will transform the two-wheeler electric motorbike and electric scooter industry in a big way from 2023 onwards.

Sersol Bhd and Thai energy giant Takuni Group PCL have signed a joint-venture agreement to manufacture, assemble and distribute electric two-wheeler (2W) motorbikes and scooters across the three countries in anticipation of surging demand for greener mobility solutions.

The announcement follows their heads of agreement signing in late October this year indicating a commitment to invest in technology transfer in the electric vehicle segment for 2W motorbikes and scooters by incorporating a joint-venture company, Sersol-Takuni.

As post-Covid-19 pandemic market conditions across Malaysia, Thailand and Indonesia are buoyant, Sersol-Takuni plans to sell about 100,000 electric 2W motorbikes and scooters annually.

“We are elated to have Takuni Group as a strong partner for this initiative, as they are energy kings in Thailand with expertise in building renewable energy infrastructure, in addition to driving expansion of Thailand’s charging network for the EV industry,” said Sersol Bhd managing director Datuk Wira Justin Lim.

Lim said Sersol-Takuni will use its capabilities in battery technology to build a plant to manufacture lithium-ion batteries.

“In Malaysia, our government strongly supports the battery electric vehicles agenda and has the right incentives in place for producers to enjoy tax exemptions for imports, excise duty and sales for locally assembled models,” said Lim.

Malaysia has launched a Green Technologies and Application for National Low Carbon Cities 2030 Masterplan for the establishment of 200 low carbon zones across the country. This will push higher demand for green vehicle adoption on the back of the nation’s flourishing B2B landscape to use 2W electric motorbikes and scooters.

Lim said Sersol-Takuni anticipates strong demand for their 2W electric motorbikes and scooters in Indonesia which according to Businesswire is predicted to grow by about 21% to reach US$816 million (RM3.6 billion) by 2025. As adoption of electric motorbike and scooters has been burgeoning within the e-hailing and e-sharing sectors, the Indonesian government has placed generous incentives related to climate mitigation programmes to reduce greenhouse gas emissions.

“Our market potential is enormous as Indonesia and Thailand, which are two of Asia’s four largest 2W electric motorcycle and scooter markets anticipating exponential growth outside India and China,” Lim added.

McKinsey predicts a surging demand for batteries to grow by 30%, and the battery value chain to grow 10 times, with global revenue expected to rise to US$410 billion by 2030.

Source: The Sun Daily