The automotive parts maker said it is now fully authorised to assemble and manufacture two-wheeled electric vehicles (EVs) at its soon-to-be built plant in Glenmarie, Shah Alam.
"The licence enables EP Blueshark to import electric bike components in semi-knocked down and/or completely knocked down form to be assembled and manufactured in Malaysia for distribution into the local and Asean markets,” EPMB said in a statement on Monday.
The approval, granted under the Industrial Coordination Act 1975, will apply retrospectively from July 25, 2022.
To recap, EPMB has partnered with China-based Sharkgulf Technologies Group Ltd to assemble, manufacture and distribute the latter’s Blueshark-branded two-wheeled EVs in Malaysia and other Asean countries.
"With the manufacturing licence from Miti, EPMB is set to accelerate its journey to commercially roll out 50,000 units BlueShark two-wheeled EVs per year initially.
"This is responding to immediate regional demand. Thereafter, EPMB will increase capacity accordingly as demand increases," it added.
EPMB executive chairman Hamidon Abdullah said the company is now a step closer to establishing its new factory for two-wheeled EVs.
"We expect to start the construction of the plant in early 2023 and target to complete it by the third quarter of 2023.
"The manufacturing facility will not only be technologically advanced but will also employ mainly Malaysians - comprising at least 80 per cent of the workforce - and train them via transfer of skills and technology,” he said.
Over the next three to 10 years, South-East Asian countries are expected to see significant growth in the two-wheeled EV market, surpassing Europe and East Asia, Hamidon said.
