PETALING JAYA: Main Market-listed Ni Hsin Group Bhd through its wholly-owned subsidiary, Ni Hsin EV Tech Sdn Bhd, targets to sell 15,000 units of EV motorcycles a year over three years covering the Asia-Pacific region, according to Ni Hsin EV Tech managing director Khoo Chee Kong (pic).
“We are deep in negotiations with several organisations, government-linked companies (GLC), 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,” said Khoo.
In conjunction with the unveiling of the two Tailg Ebixon EV motorcycle models, Ni Hsin will also sign memorandum of agreements with several organisations, including Mimos Bhd, Projek Lintasan Kota Holdings Sdn Bhd, Hai-O Enterprise Bhd and PT Winn Pratama Indonesia to assist in the marketing, promotion and distribution of the EV motorcycles.
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.
In addition, Khoo said the company had realised that there is a market for EV motorcycles, after developing an electric motorcycle that was clean and has zero tailpipe emission, Blackbixon Coffee Bike, last year.
“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 EV, with the government providing incentives in the form of tax reliefs for the assembly or manufacturing of EV, component parts and the development of EV ecosystems such as charging facilities,” he said in a statement on Nov 22.
He added that the government and GLC are also expected to adopt the use of EV. Khoo said the global electric scooter and motorcycle market is estimated to grow at a compound annual growth rate of 10.2% to US$93.9 billion (RM430.37 billion) by 2031 from US$35.3 billion (RM161.79 billion) in 2021.
The group said its 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 Bhd’s voluntary carbon market (Bursa VCM), to be opened by the end of 2022.
Its 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 offsetting projects such as planting trees or shifting to cleaner fuels.