EPMB wins first major deal to supply e-Bikes

KUALA LUMPUR: EP Manufacturing Bhd (EPMB) has won its first major deal to supply electric bikes (e-Bikes) to the Indonesian and Vietnamese markets, with an initial order of 23,000 units to be delivered from the first quarter of 2023.

The price for each e-Bike is expected to be within the range of US$1,850 to US$3,900 (RM8,095 to RM17,064), the company said in a statement yesterday.

“We begin 2023 with this exciting development as the five-year deal will create a new source of revenue for the group with a healthy margin. This will put us on an accelerated growth as we work towards securing more such buyers in the future. While our electric vehicle (EV) venture only began less than a year ago, we have been seeing a strong response from prospective clients,” EPMB acting chief executive officer Lim Sim Yee said in the statement.

EPMB’s wholly-owned subsidiary EP Blueshark Sdn Bhd had signed a master agreement with Singapore-based Averte Global Pte Ltd and Hong Kong-based Blueshark Group Ltd yesterday. EPMB said Averte and Blueshark have jointly agreed to be the joint-venture partners and purchasers.

Under the agreement, the purchase deal could be extended.

“EP Blueshark is expected to supply at least two million e-Bikes to the purchasers. We see tremendous growth opportunities for two-wheeler EVs in Indonesia and Vietnam. EPMB hopes to be at the forefront to capitalise on this demand,” Lim added.