EP Manufacturing gets Miti licence to make electric bikes

KUALA LUMPUR: EP Manufacturing Bhd's (EPMB) wholly-owned subsidiary, EP Blueshark Sdn Bhd (EP Blueshark), has received a manufacturing licence from the International Trade and Industry Ministry (MITI) to undertake the assembly of electric bikes.

The automotive parts maker said it is now fully authorised to assemble and manufacture two-wheeled electric vehicles (EVs) at its upcoming manufacturing facility in Glenmarie, Shah Alam.

"The licence enables EP Blueshark to import electric bike components in semi-knocked down and/or completely knocked down form to be assembled and manufactured in Malaysia for distribution into the local and ASEAN markets,” EPMB said in a statement today.

The approval, granted under the Industrial Coordination Act 1975, will apply retrospectively from July 25, 2022.

To recap, EPMB has partnered with China-based Sharkgulf Technologies Group Ltd to assemble,

manufacture and distribute the latter’s Blueshark-branded two-wheeled EVs in Malaysia and other ASEAN countries.

"With the manufacturing licence from MITI, EPMB is set to accelerate its journey to commercially roll out 50,000 units BlueShark two-wheeled EVs per year initially.

"This is responding to immediate regional demand. Thereafter, EPMB will increase capacity accordingly as demand increases," it added.

EPMB executive chairman Hamidon Abdullah said the company is now a step closer to establishing its new manufacturing facility for two-wheeled EVs.

"We expect to commence the construction of the manufacturing plant in early 2023 and target to complete it by the third quarter of 2023.

"The manufacturing facility will not only be technologically advanced but will also employ mainly Malaysians -- comprising at least 80 per cent of the workforce -- and train them via transfer of skills and technology,” he said.

Over the next three to 10 years, Southeast Asian countries are expected to see significant growth in the two-wheeled EV market, surpassing Europe and East Asia, Hamidon said. - Bernama

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

US economy grew slightly, inflation and rates cloud outlook
Wall St preps for year-end stock rally
S P Setia appoints Annuar Marzuki Abdul Aziz as CFO
CelcomDigi formalises Idham Nawawi, Albern Murty as CEO, deputy CEO
EP Manufacturing appoints Lim Sim Yee as acting CEO
External factors continue to lift ringgit higher
Malaysia's digital assets market regulated to protect investors: SC
Mohamed Ridza Mohamed Abdulla retires from BIMB Group
China's EVE Energy to build US$422.3mil cylindrical battery plant in Malaysia
Ranhill Utilities unit bags RM50mil contract from MMHE

Others Also Read