Artroniq reaches RM100 million, two-year contract to assemble Reevo e-bikes in Malaysia

A RM100 million memorandum of agreement (MoA) spanning over two years was awarded to Artroniq for assembly Reevo . electric bike (electric bicycle). Operations are expected to begin in February or March following the RM5 million acquisition of the facility in Batu Kawan, Penang.

The Reevo brand of e-bikes is owned by Malaysia-based company Beno, which mainly exports to the US and Europe. Artroniq CEO and Chief Executive Officer, Kent Liaw Way Gian, said the contract will be expedited under the management of Artroniq subsidiary Artroniq iTech, which took over the Reevo construction from the operator. before. Daily sun report.

The goal of 2,000 Reevo e-bikes will be assembled and completed each month, and Liaw expects 95% of production to be for export. Artroniq will seek to work with local authorities to obtain permits and permits for Reevo.

Noting that this is Artroniq’s first phase of partnership with Reevo, Liaw added: “In the second phase, we plan to become a distributor of Reevo e-bikes in Southeast Asia as Beno also intends to develop develop its market base in Southeast Asia. Asia. Then, in the third phase, in the second half of this year, we plan to work with Beno in the research and development of their electric motorcycle.”