PETALING JAYA: Sersol Bhd has signed a joint venture (JV) agreement with Thailand energy giant Takuni Group Public Co Ltd to manufacture, assemble and distribute electric two-wheelers motorbikes and scooters across Malaysia, Indonesia and Thailand, in line with the anticipated surging demand for green mobility solutions.
In a statement, Sersol said the countries would be transforming the two-wheelers electric motorbikes and electric scooters in a big way from 2023 by incorporating a new JV company called Sersol-Takuni (ST).
This is following a heads of agreement signing in October this year, indicating its commitment to invest in technology transfer in the electric vehicle segment for such motorbikes and scooters.
ST plans to sell about 100,000 electric two-wheelers motorbikes and scooters annually, as the post-pandemic market conditions across the nations are buoyant.
Sersol managing director Datuk Justin Lim said the group is proud to have Takuni as a strong partner for the initiative, as it is an energy leader in Thailand with expertise in building renewable energy infrastructure, in addition to driving expansion of the country’s charging network for the electric vehicle industry.
Lim said ST would use its technological capabilities in battery technology to build a plant to manufacture lithium-ion batteries in the near future.
According to McKinsey, the demand for batteries will grow by 30% and the value chain to expand 10 times, with global revenue expected to rise to US$410bil (RM1.81 trillion) by 2030.
“In Malaysia, our government strongly supports the battery electric vehicles agenda and has the right incentives for producers such as tax exemptions for imports, excise duty and sales for locally assembled models,” he added.
The statement noted that Malaysia had also launched a green technology and application for the National Low Carbon Cities 2030 master plan to establish 200 low-carbon zones across the country.
“This will result in a high demand for green vehicle adoption on the back of the nation’s flourishing business-to-business landscape to use two-wheelers electric motorbikes and scooters,” it added.
According to Lim, ST anticipates strong demand for its electric motorbikes and scooters in Indonesia.
This is backed by Business Wire’s prediction for them to grow by 21% to reach US$816mil (RM4bil) by 2025.
According to the statement, the Indonesian government has given generous incentives related to climate mitigation programmes to reduce greenhouse gas emission, as adoption of electric motorbike and scooters has been surging within the e-hailing and e-sharing sectors.
“Our market potential is enormous as Indonesia and Thailand, which are two of Asia’s four largest two-wheelers electric motorcycle and scooter markets, are anticipating exponential growth outside India and China,” Lim said.
Last week, Sersol-Takuni entered into a memorandum of understanding with China’s satellite giant Chongqing Beidou Jiean Neo-Energy Technology Ltd to manufacture, assemble and distribute 2W electric motorbikes and scooters in Indonesia, Thailand and Malaysia.