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| Group targets 15,000 units in sales a year over three years |
KUALA LUMPUR, Nov 22, 2022 - (ACN Newswire) - Ni Hsin EV Tech Sdn. Bhd., a wholly-owned subsidiary of Main Market-listed Ni Hsin Group Berhad (formerly known as Ni Hsin Resources Berhad (Bursa: NIHSIN, 7215)), today unveiled two models of the TAILG EBIXON EV Motorcycles.
 | | Managing Director of NH EV TECH, Khoo Chee Kong |
 | | Mr. Chee Kok Hee, Secretary General of Malaysia Motorcycle and Scooter Dealers Association; Mr. Lee Kun Feng, Vice President of Dongguan Tailing Motor Vehicle Co., Ltd; Yang Berbaqhagia Dato' Zailani Hj Hashim, Director General of Road Transport Department; Yang Berbahagia Dato' Seri Rosman Mohamed, Chairman of Ni Hsin Ev Tech Sdn. Bhd.; and Mr. Khoo Chee Kong, Managing Director of Ni Hsin Ev Tech Sdn. Bhd. [L-R] |
The models, the TAILG EBIXON BOLD and TAILG EBIXON TORQ, in the personal and commercial use categories, respectively, are assembled at the Group's manufacturing facilities in Seri Kembangan, Selangor.
Khoo Chee Kong, Managing Director of NH EV TECH, said, "After more than two years of hard work, from the conceptualisation, R&D, experimentation, trial and error, and close collaboration with our formidable partner, Dongguan Tailing Motor Vehicle Co., Ltd, we finally achieved the milestone with the launching of our TAILG EBIXON EV Motorcycles - the Game Changer for Ni Hsin Group."
The Group started selling coffee from motorcycles in line with BLACKBIXON's concept of cafe@home cafe@office cafe@anywhere where the BLACKBIXON Coffee Bike can quickly deliver coffee ordered through e-commerce platforms.
Khoo explained, "The first motorcycle we experimented with was an internal combustion engine (ICE) motorcycle which was not efficient as it was burdensome and costly, and we wanted a vehicle that is environmentally friendly. After a series of trials and experiences, an electrical motorcycle that was clean and has zero tailpipe emission was successfully developed, as our BLACKBIXON Coffee Bike last year."
"We soon realised that there is a market for this purpose-built machine. The COVID-19 pandemic brought about a spike in e-commerce and hence the demand for delivery services. Motorcycles are a popular choice for its quicker delivery time and low maintenance. In light of global warming, EV motorcycles make perfect sense as they are energy efficient and cheaper to maintain."
"There are lots of opportunities for the use of EVs, with the government providing incentives in the form of tax reliefs for the assembly or manufacturing of EVs, component parts, and the development of EV ecosystems such as charging facilities. The government as well as government-linked companies (GLCs) are also expected to adopt the use of EVs. Also, the global electric scooter and motorcycle market is estimated to grow at a CAGR of 10.2% to US$93.9 billion by 2031 from US$35.3 billion in 2021."
"Our target is to sell 15,000 units of TAILG EBIXON EV Motorcycles a year over the next three years covering the Asia Pacific region. We are deep in negotiations with several organisations, GLCs, government agencies and dealers to promote, market and distribute our EV motorcycles in the region. Our business model includes outright sale and rent-to-own modules to businesses as well as consumers."
The Group's venture into the manufacture and assembly of EV motorcycles underscores its commitment to social and environmental responsibilities while creating a green revenue stream in carbon trading, in which emissions are treated as either carbon credits or offsets that can be sold in a carbon market such as Bursa Securities Malaysia Berhad's voluntary carbon market (Bursa VCM), to be opened by the end of 2022.
Ni Hsin's EV motorcycle business generates carbon offsets that can be sold to other companies to reduce their carbon footprint. The Bursa VCM will, besides providing transparency in the carbon credit market, boost investments in high-quality offsetting projects such as planting trees or shifting to cleaner fuels.
In conjunction with the unveiling of the two TAILG EBIXON EV Motorcycle models, Ni Hsin will also sign Memorandum of Agreements with several esteemed and well-connected organisations, including MIMOS Berhad, Projek Lintasan Kota Holdings Sdn Bhd (PROLINTAS), HAI-O Enterprise Bhd and PT Winn Pratama Indonesia to assist in the marketing, promotion and distribution of these EV motorcycles.
Ni Hsin Group Berhad: NIHSIN [Bursa: 7215] [RIC: NHSN:KL] [BB: NHR:MK], http://www.ni-hsin.com/
Topic: Press release summary
Source: Ni Hsin Group Berhad
Sectors: Automotive, Daily News, Local Biz, Motorsports, EVs, Transportation
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From the Asia Corporate News Network
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