JAKARTA (TheInsiderStories) - Tree Technologies Sdn Bhd (Treelektrik), a Malaysian home-grown electric vehicles, has signed a partnership to supply 200,000 units of electric motorbikes (e-bikes) to Indonesia, said the company today. The subsidiary of Ideanomics (NASDAQ: IDEX) will sell the products through PT Pasifik Sakti Enjiniring for the Indonesian market.
Pasifik Sakti Enjiniring operates the electric motorbikes with brand MOLINUS (Motor Listrik Nusantara).
Commenting on the cooperation, CEO of Treeletrik, Datuk Viswananthan Menon said, “We are thrilled to further our efforts on the regional stage through this partnership with PT Pasifik Sakti Enjiniring and Nahdlatul Ulama in Indonesia to provide a transportation option that is clean, safe, and affordable.”
A joint venture is also in the pipeline between the two parties are to establish an assembly plant in Indonesia in anticipation of growing demand for the electric motorcycles. Aligned with the Indonesian government’ program to accelerate the battery-based EV program, the local partner are optimistic about demand and set sales targets at 10,000 units for 2021 and completing the 200,000 units by end of 2023.
Treeletrik’ portfolio of electric motorbikes and electric commercial vehicles seek to redefine the EV industry and future of mobility in Malaysia and Southeast Asian region. In preparation to fulfil its growing order books, the company is investing in its assembly, production, and marketing facilities, initially in Selangor and later at a new facility in Pahang, Malaysia.
It also plans to establish an assembly plant in Indonesia, in conjunction with the distribution partner, to streamline supply chain efficiencies and improve margins through local assembly in markets with sufficient demand. The EV player began exporting an estimated 50 units of electric motorbikes to Thailand and Indonesia in 2020, with an additional 15,000 units due to be exported this year.
“The size-able orders secured to date and ongoing discussions with other countries expressing keen interest on Treeletrik‘ e-bike range, will result in significant expansion in both Malaysia and international operations,” he concluded.
Other markets is eyeing as potential customers are the Philippines and Cambodia. Ideanomics acquired 51 percent ownership of Treeletrik in 2019 and since then the manufacturer has begun organizing itself for growth in the Southeast Asian market to take advantage of the region’ heavy reliance on two- and three-wheeled transportation.
Written by Editorial Staff, Email: theinsiderstores@gmail.com
