PETALING JAYA: EP Manufacturing Bhd
’s (EPMB) wholly owned subsidiary, EP Blueshark Sdn Bhd, has been given the green light by the Ministry of International Trade and Industry (Miti) to assemble and manufacture two-wheeled electric vehicles (EV) in the country.
The automotive component manufacturer said the manufacturing licence from Miti will enable its subsidiary to import electric bike components in semi-knocked-down and completely-knocked-down form that will then be assemble and manufacture two-wheeled EVs at its upcoming manufacturing facility in Glenmarie, Shah Alam.
“The licence enables EP Blueshark to import electric bike components which will then be assembled and manufactured in Malaysia for distribution into the local and Asean markets,” EPMB said in a filing with Bursa Malaysia yesterday.
For this project, EPMB has tied-up with China-based Sharkgulf Technologies Group Ltd to assemble, manufacture and distribute the latter’s Blueshark-branded two-wheeled EVs in the above markets.
The Miti approval, which was granted under the Industrial Coordination Act 1975, will apply retrospectively from July 25, 2022.
With the manufacturing licence, EPMB intends to commercially distribute 50,000 units of BlueShark two-wheeled EVs per annum in the initial years.
“This is responding to immediate regional demand. Thereafter, EPMB will increase capacity accordingly as demand increases,” it added
EPMB’s executive chairman Hamidon Abdullah said the company expects to commence on the construction of the manufacturing plant in Glemarie by early 2023 and targets to complete it by the third quarter of 2023.
“The manufacturing facility will not only be technologically-advanced but will also employ at least 80% of Malaysians in the workforce and train them via transfer of skills and technology,” he said in a release yesterday.
Over the next three to 10 years, South-East Asian countries are expected to see significant growth in the two-wheeled EV market, surpassing Europe and East Asia, Hamidon added.
Last month, the Blueshark R1 model, a smart electric motorcycle, received the Vehicle Type Approval from the Road Transport Department, under the Malaysia Road Transport Act 1987.
