KUALA LUMPUR (Oct 3): EP Manufacturing Bhd (EPMB) has been approved to assemble and manufacture two-wheeled electric vehicles (EVs) in its upcoming manufacturing facility in Glenmarie, Shah Alam.

In a statement on Monday (Oct 3), EPMB said the Ministry of International Trade and Industry (MITI) had on Sept 26, given the former’s unit EP Blueshark Sdn Bhd (EP Blueshark) the licence to make the EVs.

The company said the approval will apply retrospectively from July 25, 2022.

EPMB has partnered with China-based Sharkgulf Technologies Group Ltd to assemble, manufacture and distribute the latter’s Blueshark-branded two-wheeled EVs in Malaysia and other ASEAN countries.

With the MITI licence, EPMB said it is set to commercially roll out 50,000 units of BlueShark two-wheeled EVs per year for the initial years.

It said this responds to immediate regional demands.

Thereafter, EPMB said it will be responding to increase in demands, and capacity accordingly.

EPMB executive chairman Hamidon Abdullah said the company was a step closer to establishing its new manufacturing facility for two-wheeled EVs, with the license granted by MITI.

“We expect to commence the construction of the manufacturing plant in early 2023 and target to complete it by Q3 2023.

“The manufacturing facility will not only be technologically-advanced but will also employ at least 80% of Malaysians in the workforce and train them via transfer of skills and technology,” he said.

Over the next three- to ten years, Southeast-Asian countries are expected to see significant growth in the two-wheeled EV market, surpassing Europe and East Asia, Hamidon said.

At midday break on Monday, EPMB shed two sen or 1.77% to RM1.11, with 467,800 shares done.