PETALING JAYA: Ni Hsin Group Bhd
is seeking shareholders’ approval to diversify its principal business activities into electric vehicles (EVs), as it looks to expand its electric motorcycle operations through contract manufacturing, new products and wider market coverage.
The group said its EV business remains at an early stage and has yet to contribute positively to its earnings, but it expects the segment could eventually become a material contributor to net profit and account for at least 25% of its net assets.
Ni Hsin’s EV business generated RM1.43mil in revenue and recorded a loss after tax of RM1.43mil for the financial year ended June 30, 2026.
The proposed diversification would allow the group to further develop its EV operations, which began in 2021 through its wholly owned subsidiary Ni Hsin EV Tech Sdn Bhd.
It currently assembles and markets electric motorcycles at its facility in Seri Kembangan, Selangor, including the EBIXON TORQ, BOLD and KRUZ, as well as TC Max and CPX models.
Ni Hsin has also expanded into original equipment manufacturing, signing a contract manufacturing agreement with MARS Greentech Sdn Bhd in April to assemble selected electric two-wheeler models.
The group is seeking further growth through an expanded product portfolio, including electric off-road motorcycles, and greater penetration of corporate, fleet and institutional customers such as government agencies, universities and last-mile logistics operators.
It also recently signed a memorandum of understanding with Apex Ventures (Labuan) Ltd to promote and distribute its products, including EVs, initially in Turkey and the Middle East.
Ni Hsin said Malaysia’s EV market is expected to grow 59.9% in 2026 to 91,527 vehicles, with the market forecast to expand at a compound annual growth rate of 36.8% between 2026 and 2030.
The proposed diversification will not involve any share issuance, acquisition, disposal or fundraising and is not expected to have an immediate impact on earnings or earnings per share.
