KUALA LUMPUR: Ni Hsin Group Bhd's unit Ni Hsin EV Tech Sdn Bhd has entered into a memorandum of understanding (MoU) with Australian Exchange-listed Vmoto Ltd to assemble and distribute Vmoto branded electric vehicles (EV) in Malaysia.
In a statement, Ni Hsin said the parties have formed a strategic partnership for the execution of a distribution agreement and entering into a joint venture structure to assemble Vmoto's F01, CPX Pro and TC Max EV motorcycles.
The collaboration also aims to win market share through business-to-consumer sales, business-to-business and business-to-government marketing channels in Malaysia.
Ni Hsin EV Tech managing director Khoo Chee Kong said the collaboration will enable both parties to expand their share of the two-wheeler EV market.
"The products are just what the market needs especially in the B2B and B2G segments.
"The high-performance electric motorcycles manufactured by VMOTO is well suited for the security enforcement functions of organisations be it business or governmental.
"Our business model covers B2B and B2G segments and our target customers include the Police Force, Armed Forces, Road and Transport Department, Customs Department, Ports, Security Companies and the like," he said.
