Ni Hsin launches EV bikes, targets to sell 15,000 units per annum

Ni Hsin launches EV bikes, targets to sell 15,000 units per annum

22 Nov 2022

Ni Hsin Group Bhd has launched its TAILG EBIXON electric vehicle (EV) motorcycles.

In a statement to the local bourse on Tuesday (Nov 22), the company said its unit Ni Hsin EV Tech Sdn Bhd had unveiled two models of its TAILG EV motorcycles in the personal and commercial categories, namely the TAILG EBIXON BOLD and TAILG EBIXON TORQ.

It said the TAILG EV motorcycles are imported and assembled at the company’s manufacturing facilities in Seri Kembangan, Selangor.

Malaysian Investment Development Authority (MIDA) chief executive officer Datuk Wira Arham Abdul Rahman said the production or assembly activities of Ni Hsin reflects the competitiveness of local companies at presenting themselves as one of the innovative leaders of EVs.

He said this is also in line with the Government’s commitment to developing the EV technology ecosystem as outlined in the National Automotive Policy 2020.

He said despite thriving to positioning Malaysia as a regional hub for the production of EVs, the country is also heading towards the aspiration of reducing carbon emissions from vehicles.

“As highlighted in the Low Carbon Mobility Blueprint 2021-2023, the Government is promoting the use of EVs and other low-carbon transportation choices to lower greenhouse gas emissions in the country, and aiming to be a significant participant in the regional electric mobility market from 2030,” he said.

Meanwhile, Ni Hsin EV Tech managing director Khoo Chee Kong said the company envisages a significant surge in demand for EV motorcycles in Malaysia and the Asean region in the near term.

“Our target is to sell 15,000 units of TAILG EBIXON EV motorcycles a year over the next three years.

“We have signed memoranda of agreement with several esteemed organisations to assist us in the marketing, promoting and distribution of TALG EV motorcycles,” he said.

At the midday break on Tuesday, Ni Hsin had fallen 3.45% or half a sen to 14 sen, with 64,500 shares traded.

Source: The Edge Markets