English | 简体中文 | 繁體中文 | 한국어 | 日本語
Wednesday, 23 March 2022, 14:00 HKT/SGT
Share:
    

Source: Ni Hsin Group Berhad
Ni Hsin Signs OEM Manufacturing Agreement with TAILG for Electric Two Wheelers
Venture into the e-mobility in line with Ni Hsin's drive towards ESG

KUALA LUMPUR, Mar 23, 2022 - (ACN Newswire) - Ni Hsin EV Tech Sdn Bhd ("NH EV TECH"), a wholly-owned subsidiary of Main Market-listed Ni Hsin Group Berhad (formerly known as Ni Hsin Resources Berhad) ("Ni Hsin" or the "Group"), today entered into an Original Equipment Manufacturing Agreement ("OEM Agreement") with Dongguan Tailing Motor Vehicle Co., Ltd. ("TAILG") for the manufacture of the eBixon EV Bike.

Khoo Chee Kong, Managing Director of NH EV Tech

Under the OEM Agreement, TAILG will manufacture the eBixon EV Bikes and deliver as semi-knocked down ("SKD") components that includes spare parts and software while NH EV TECH will assemble and test as well as run quality control and commission the electric two wheelers in Malaysia.

NH EV TECH and TAILG had, on 14 October 2021, entered into a product development agreement to develop the electric two wheelers based on TAILG's existing Model D-80 for commercial purposes. Following the successful development of the prototype, the parties are now proceeding with the commercial manufacture of the two wheelers, which is certified by the Economic Commission for Europe (ECE), Malaysian Standard 2413 (MS2413) and Vehicle Type Approval (VTA) from Jabatan Pengangkutan Jalan Malaysia.

Khoo Chee Kong, Managing Director of NH EV Tech, said: "Our venture into the e-mobility business is in line with the Group's commitment to seek opportunities under the ESG criteria of sustainability. This venture is now coming to fruition with the OEM Agreement and the manufacturing license from the Ministry of International Trade and Industry ("MITI") obtained in October 2021".

"The eBixon EV Bike will be used as proprietary mobile beverage machines in our BLACKBIXON Coffee business concept of cafe@anywhere, serving BLACKBIXON coffee to customers at various popular locations in cities around the country. We are also developing business models for the last mile delivery services built on the eBixon EV Bike. The eBixon EV Bike is expected to be launched in the third quarter of 2022. Our target is to produce 1,000 units of eBixon EV Bikes for the first year."

"We are also targeting to sell 50,000 units of the eBixon EV Bikes in Southeast Asia in the next three years as demand for two-wheeled EVs 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".

Ni Hsin Group Berhad: http://www.ni-hsin.com/
NIHSIN [Bursa: 7215] [RIC: NHSN:KL] [BB: NHR:MK]

Topic: Press release summary
Source: Ni Hsin Group Berhad

Sectors: Daily Finance, Automotive, Daily News, Local Biz, Motorsports, EVs, Transportation
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Ni Hsin Group Berhad Related News
Dec 15, 2022 18:00 HKT/SGT
Ni Hsin Inks Strategic Collaboration with SIRIM
Nov 22, 2022 14:50 HKT/SGT
Ni Hsin Group Unveils Two TAILG EBIXON EV Motorcycle Models
Oct 25, 2022 20:00 HKT/SGT
Ni Hsin Obtains VTA Approval for Electric Vehicle Bikes
Sept 6, 2022 14:00 HKT/SGT
Blackbixon Cafe Officially Debuts in Downtown KL
Dec 13, 2021 14:00 HKT/SGT
Ni Hsin Group Launches BB2GO EV Bikes for F&B Business
More news >>
Copyright © 2024 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575