Companies urged to venture into producing two-wheel EV industry

The Star

At the launch of Yinson GreenTech’s rydeEV Experience Centre in Selangor on Saturday night, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz urged more companies to venture into the business of manufacturing two wheel electric bikes and their component parts.   He lauded  the opening of the rydeEV Experience Centre which allows visitors to experience the future of micromobility and the convenience of swappable battery technology.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00 I am actually very honoured to be here tonight for the official launch of the RIDE EV Experience

00:10 Centre.

00:11 This moment, as we all have seen, is not just a significant milestone for Yin Sen Green

00:17 Tech, but it's also in line with the Economy Badani framework when we talk about sustainability

00:23 and the commitment for the future generations in mind.

00:26 Two months ago, I had the pleasure of witnessing the signing of the MOU between Yin Sen Green

00:32 Tech and PLUS Malaysia.

00:34 This is establishing the fast charging hubs along the PLUS Highway.

00:39 And today, I would like to congratulate the Yin Sen Green Tech again on its e-mobility

00:45 vision.

00:46 But the global market size is projected to grow roughly US$110 billion.

00:51 If you look at the growth between that is by 2027, so from there to 2027, the giga is

00:59 around 24%.

01:01 And closer to home, Malaysia's total industry volume or TIV of motorcycle sales actually

01:08 reached 720,000 units in 2022.

01:12 And that's a big increase, it's an increase of 17% year on year.

01:17 This means that the motorcycle, the two wheelers, remain extremely relevant and popular as a

01:22 mode of transport in Malaysia.

01:24 Therefore, by assembling EV, motorcycle, and of course this is rider EV in Malaysia,

01:31 coupled with the government policy push on EVs, I'm sure the company is on a good footing

01:37 to capture the slice of both the domestic and the regional market share.

01:43 So Ride EV's battery as a service, the BAAS model, enables convenient access to charge

01:50 up batteries from swapping stations nationwide, effectively eliminating the EV range anxiety

01:57 for users who are always on the go.

01:59 And if you know, we all know that battery swapping is also faster than refueling a petrol

02:05 powered vehicle, which can be an advantage to users such as SMEs, corporates, of course

02:11 the e-delivery riders who will want to maximize their time on the road.

02:16 As the battery of an EV constitutes about 70% of the cost, so battery swapping can actually

02:22 significantly reduce the ownership costs for e-bike owners.

02:26 So we laud Ride EV's efforts in working with landowners and real estate companies to set

02:32 up its battery charging or swapping stations throughout Klang Valley, which not only addresses

02:37 the range anxiety issue, but also encourage regular customers or consumers to make the

02:44 switch to EV.

02:46 So ladies and gentlemen, in conclusion, METI will continue to support the growth of EV

02:52 charging infrastructure for two-wheelers, just as how the government have committed

02:58 to install 10,000 EV chargers by 2030.

03:02 The government will also continue to support and facilitate similar initiatives that contribute

03:10 to our shared goal of a cleaner, greener and a more prosperous Malaysia.

03:16 3, 2, 1...

03:21 [Applause]

03:26 [Music]

03:29 [Music]

03:32 [Music]

03:35 [BLANK_AUDIO]

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