KUALA LUMPUR: ACE Market-listed company Artroniq Bhd inked a distribution agreement with Indonesia-based PT Terang Dunia Internusa (PT TDI)’s electric motorcycle brand United E-Motor, among others to set up manufacturing and assembly plants across the country.
Under the agreement, Artroniq will be the exclusive distributor of the brand in Malaysia.
In a joint effort of contributing towards the Green City Project, the group will establish manufacturing and assembly plants and distribution concept stores throughout Malaysia, namely in Kuala Lumpur, Penang and Johor.
“Our wholly owned subsidiary Artronic Itech Sdn Bhd will assemble these products locally, contributing to the Malaysian economy and showcasing our technical expertise,” said CFO Marcus Chin Choon Wei in a press conference at the Embassy of the Republic of Indonesia, on Wednesday.
He said that the group has existing plants, but the manufacturing and assembly facilities will only be added after its grand launch of the e-motorcycle brand later this year.
During the launch it “will unveil innovative electric motor solutions to meet the growing demand for sustainable transportation”.
“Our partnership is not just about business; it’s about shared values, especially in sustainability. This aligns perfectly with our commitment to environmental, social, and governance (ESG) principles, as both companies aim to reduce environmental impact and improve the quality of life for our stakeholders,” said Chin.
This exciting event, he added, represents the culmination of their partnership, where they will unveil innovative electric motor solutions to meet the growing demand for sustainable transportation.
On projections, Chin expects to manufacture a volume of 2,000 units next year with the group focusing on exploring and testing the Peninsula Malaysia market.
“This is a new product in Malaysia, we expect to manufacture 2,000 units in 2024 to fulfill the market requirement to launch and push this product. Since there are about 11 states in the Peninsula, we allocate about 150 units per state,” he said.
He added that it will initially focus on domestic production but he does not discount the possibility of exportation in the future.
On outlook, Chin is optimistic that the demand for electrical vehicle will continue to grow, given the global trend of sustainability and ESG products, underpinned by the encouragement from the government in line with its aim to achieve net zero carbon emission by 2050.
