KUALA LUMPUR: EP Manufacturing Bhd (EPMB) has secured the exclusive right to assemble and distribute the Lingbao-developed electric cars in the Malaysian and Indonesian markets.
The automotive parts manufacturer, in a statement, said the five-year deal also allowed EPMB the option to use its own brand name for the electric vehicle (EV).
EPMB’s wholly-owned subsidiary, EP 4Wheeler Sdn Bhd, had on Dec 27 signed an exclusive distributor agreement with Hubei Dongfeng Power Auto Trade Co Ltd and Xiamen Tsingyan Hylong Motor Technology Co Ltd to assemble and sell the right-hand drive LINGBOX cars.
EPMB is granted the right to distribute the cars under its own name or the brand name of LINGBOX Auto or Qingyan Hailong.
The agreement is effective from Jan 1, 2023 and expires on Dec 31, 2027 and shall be automatically renewed for another five years, subject to terms and conditions.
LINGBOX is one of the models under the Lingbao auto brand, which is owned by China-based Jiangsu Jemmell New Energy Vehicle Co Ltd.
“With the rising appetite for EVs in Malaysia and Indonesia, the group foresees a good response for LINGBOX and we hope to bring in more new models to capture a bigger share in the regional EV market. This would create another revenue stream for EPMB,” EPMB acting chief executive officer Lim Sim Yee said.