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Friday, 17 September 2021, 14:00 HKT/SGT

Source: Ni Hsin Group Berhad
Ni Hsin Signs MoU with Tailg for Electric Vehicles Collaboration

KUALA LUMPUR, Sept 17, 2021 - (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) ("Ni Hsin"), today entered into a Memorandum of Understanding with Dongguan Tailing Motor Vehicle Co., Ltd. ("TAILG") with the intention to collaborate and explore opportunities in the study, research, development, assembly and distribution of customised Electric Vehicles ("EV") for commercial purposes in Malaysia and the ASEAN region ("the Proposal").

EV Bike

Established in 2004, TAILG is one of the top three manufacturers of electric two-wheelers in China with a presence in over 75 countries and a research and development arm that has come up with over 420 patents relating to high performance EV, extended efficiency and cloud services.

TAILG has won numerous awards including National High-Tech Enterprise and National Quality Training Base, and delivered EV models to China Telekom, Baidu Takeaway as well as Proctor & Gamble, amongst others. Environmental, social and governance ("ESG") is a strong focus of TAILG's operations, and the company is also a partner of the "United Nations Environment E-mobility Programme".

Khoo Chee Kong, Managing Director of Ni Hsin EV Tech Sdn Bhd, said: "The transport sector is responsible for 14% of global greenhouse gas emissions. The challenge of reducing transport emissions is proving increasingly important. This puts the emphasis on technological and organisational change, steering the world towards electromobility and zero-emission transport with the ultimate effect of reducing emissions in this sector and improving the health of the planet's population."

Businesses have begun to embrace using EVs for delivery as they offer tangibly lower maintenance and operational costs due to their radically simpler mechanical systems that require little regular upkeep, such as not requiring costly oil changes. Industry giants like Amazon, Flipkart, IKEA, Swiggy and Grofers have been using electric bikes for deliveries in most cities.

Khoo added, "The Ni Hsin Group's venture into the e-mobility business is about business sustainability as well as a commitment to the ESG criteria of sustainability. Complementing our BLACKBIXON Coffee business concept of cafe@anywhere, we have created our proprietary Mobile Beverage Machine which uses EV bike to power the operation of the coffee machines to brew and serve our BLACKBIXON coffee to customers at various popular locations in cities around the country. We are also targeting to expand this business model across ASEAN.

Through the collaboration we will be working with TAILG to develop the EV bikes for the above and other commercial purposes."

Please contact the below for more information:
Hakim Juraimi
Email: h.juraimi@swanconsultancy.biz

Topic: Press release summary
Source: Ni Hsin Group Berhad

Sectors: Retail & eCommerce, Daily Finance, Local Biz, Motorsports, EVs, Transportation
From the Asia Corporate News Network

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