Blueshark electric bike imported from Indonesia and Vietnam – made in Malaysia, initial order 23,000 units
A deal for KLSE listed EP Production (EPMB) supplying electric motorbikes (electric bicycles) to the ASEAN neighbors of Malaysia, Indonesia and Vietnam. The deal between EPMB, Singapore-based Averte Global and Blueshark Group from Hong Kong calls for 23,000 e-bikes to be delivered from the first quarter of 2023 with Averte and Blueshark as joint venture partners and buyers.
The agreement is valid for a period of 5 years and the subsidiary of EPMB EP Blueshark is expected to supply about 2 million electric bicycles to partners. Prices for the e-bikes are expected to range from $1,850 (RM8,094) to $3,900 ($17,064).
EPMB will manufacture e-bikes at its upcoming production facility in Shah Alam, Selangor. EPMB partner Averte signed a memorandum of understanding (MoU) with Viettel Post, a subsidiary of Vietnam Telecom, to supply 20,000 electric bicycles for sale to corporate and individual customers, while a preliminary agreement The ministry has signed with PT Marco Indokarya, a subsidiary of state-owned PT Sarinah, to purchase 2 million electric bicycles for Indonesia over a five-year period.
