KUALA LUMPUR: Sersol Bhd expects its joint venture (JV) with Thailand energy and electric vehicles (EV) motorbike specialist Takuni Group PCL to generate RM900 million in sales across Malaysia, Indonesia and Thailand.
In a statement on Nov 1, managing director Datuk Justin Lim Hwa Tat said the JV inked in Bangkok announced Sersol’s investment portfolio diversification to incorporate a Malaysian entity to handle manufacturing, marketing and distribution of EV motorbike batteries, EV batteries and charging platforms throughout the region.
“The JV company plans to capture 10% of the market growth expected in the scooter and motorcycle segments in Malaysia, Thailand and Indonesia.
“The increased usage of e-scooters and bikes in courier and e-commerce delivery applications as well as decreasing battery prices offered to consumers are drivers of growth in both segments,” he said.
According to a report by Meticulous Market Research Pvt Ltd, the e-scooter market is expected to record a compound annual growth rate (CAGR) of 28.9% from 2022 to 2029 to reach US$625.03 billion (RM2.96 trillion) by 2029.
In elevating the usage of green energy for EV motorbikes and e-scooters, Lim said the partnership will contribute to accelerating the renewable energy transition mandate in several countries in Southeast Asia to achieve net zero carbon emissions by 2050.
“We are meeting critical needs of the hour in the ongoing global energy and climate crisis. In merging our resources and capabilities, Sersol and Takuni’s competitive advantage is embodied in our ability to implement the collection of carbon credits.
“Additionally, we plan to offer leasing programmes for e-hailing bikes in these three markets,” he said.
Lim noted that the new JV company naturally extends Takuni Group’s strengths in providing comprehensive services, focusing on energy storage.
He also said the JV company will introduce battery swap charging stations, where users can quickly exchange batteries without waiting to recharge.
These measures are expected to accelerate the adoption of e-scooters and EV motorbikes in all three nations, said Lim.
He anticipates that the charging convenience will be a significant success factor for its business.
“Through the JV, we will be able to harness energy storage and improve battery quality and efficiency as well as produce high-quality charging platforms for EV motorcycles and e-scooters,” he said, adding that the Sersol-Takuni JV will set up a battery factory in Malaysia.
Sersol’s principal activities involve the manufacturing and sale of coatings, thinners and industrial chemicals. - Bernama
