Ni Hsin targets annual sales of 15,000 electric motorcycles over three years

PETALING JAYA: Ni Hsin Group Bhd, listed on the main market, through its wholly owned subsidiary, Ni Hsin EV Tech Sdn Bhd, aims to sell 15,000 units of electric motorcycles per year over three years covering the Asia-Pacific region , according to the direction of Ni Hsin EV Tech director Khoo Chee Kong (photo).

“We are in the process of negotiating with several organizations, government-related companies (GLCs), government agencies and dealers to promote, market and distribute our electric motorcycles in the region. Our business model includes direct sales and rental with option to buy modules to businesses as well as consumers,” Khoo said.

Along with the unveiling of the two Tailg Ebixon EV motorcycle models, Ni Hsin will also sign a memorandum of understanding with several organizations including Mimos Bhd, Projek Lintasan Kota Holdings Sdn Bhd, Hai-O Enterprise Bhd and PT Winn Pratama Indonesia to help with the marketing, promotion and distribution of electric motorcycles.

The models, the Tailg Ebixon Bold and the Tailg Ebixon Torq, in the personal and commercial use categories, respectively, are assembled at the group’s manufacturing facilities in Seri Kembangan, Selangor.

Additionally, Khoo said the company has realized there is a market for electric motorcycles, having developed a clean, exhaust-free electric motorcycle, Blackbixon Coffee Bike, last year.

“The Covid-19 pandemic has caused a spike in e-commerce and therefore in demand for delivery services. Motorcycles are a popular choice for their faster delivery time and low maintenance. In light of global warming, electric motorcycles make perfect sense as they are energy efficient and cheaper to maintain.

“There are many opportunities for the use of electric vehicles, with the government offering incentives in the form of tax breaks for the assembly or manufacture of electric vehicles, components and the development of electric vehicle ecosystems such as charging facilities,” he said in a statement. November 22.

He added that the government and the GLC should also embrace the use of electric vehicles. Khoo said the global market for electric scooters and motorcycles is expected to grow at a compound annual growth rate of 10.2% to reach US$93.9 billion (RM430.37 billion) by 2031, from 35 .3 billion US dollars (RM 161.79 billion) in 2021.

The group said its business in manufacturing and assembling electric motorcycles underscores its commitment to social and environmental responsibilities while creating a green revenue stream in carbon trading, in which emissions are treated as carbon credits. or offsets that can be sold on a carbon market. such as Bursa Securities Malaysia Bhd’s (Bursa VCM) voluntary carbon market, which will be open by the end of 2022.

Its electric motorcycle business generates carbon offsets that can be sold to other companies to reduce their carbon footprint. The Bursa VCM, in addition to ensuring transparency in the carbon credit market, will stimulate investment in offset projects such as planting trees or switching to cleaner fuels.

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