EPMB secures Miti approval for four-wheel EV manufacturing licence

EPMB group chief executive officer Ahmad Razlan Mohamed

KUALA LUMPUR: EP Manufacturing Bhd (EPMB) has secured conditional approval for a manufacturing licence from the Investment, Trade and Industry Ministry (Miti) to manufacture and assemble four-wheel energy-efficient vehicles (EEVs), electric passenger vehicles (EVs) and electric commercial vehicles.

In a statement, the company said its wholly-owned subsidiary Peps-JV (Melaka) Sdn Bhd (PJVM) received the award, subject to conditions it must fulfill within six months from the letter of approval.

EPMB is an investment holding company listed on the Main Market with operations in the automotive business.

The manufacturing licence enables PJVM to start a manufacturing plant to assemble EEVs, EVs, and other related products, the statement said.

"This expansion opens up new business opportunities for revenue and business growth while aligning the business with sustainability initiatives," it said.

Meanwhile, EPMB group chief executive officer Ahmad Razlan Mohamed said the company is committed to fulfill the Miti conditions within the given timeframe.

"The group is planning to establish a state-of-the-art manufacturing plant in Pegoh, Malacca to further accelerate our venture into this market,” he said.

He said the initiative will drive business growth and also support Malaysia's aspiration and vision of a greener future. - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Waz Lian founder Tan Sri Ta Kin Yan passes away at 72
Oil posts weekly gain on solid 2024 demand outlook
Prabowo aims to raise Indonesia debt-to-GDP ratio toward 50%
Laundry Care ventures into linen rental business
Oriental Kopi files for Bursa IPO
BHIC wins RM1bil govt job
MI Technovation prepares for chip recovery
Local furniture export outlook hinges on US housing market
Luxury labels slash prices to attract wary shoppers
Delay in rate cuts but bonds rally

Others Also Read