Categories: BusinessNewsWheels

EP Manufacturing, Cahaya Bumi working together in EVs distribution

Both firms are looking to establish a production and localisation plan to assemble the EVs in Malaysia


EP MANUFACTURING Bhd’s wholly owned subsidiary, EP 4Wheeler Sdn Bhd (EP4W), signed a memorandum of understanding with Cahaya Bumi Sdn Bhd to collaborate and venture into the business of new and used imported car distribution for electric vehicles (EVs) and its localisation activity.

In an exchange filing to the local bourse, EP Manufacturing said EP4W involved in automotive and engineering businesses which include manufacture, develop, fabricate, produce, assemble, buy, sell, import, export, distribute four wheelers and all other types of automobiles.

The company added that they have enlarged their customer base to include Perusahaan Otomobil Kedua Sdn Bhd, Proton Holdings Bhd, Honda Malaysia Sdn Bhd, Bermaz Motor Sdn Bhd and UMW Toyota Motor Sdn Bhd as their main customers.

“Cahaya Bumi is a thriving used car dealer hence, they will have an upper hand to obtain the necessary approval from the relevant government authorities such as Road Transport Department Malaysia, Malaysian Investment Development Authority, the International Trade and Industry Ministry and/or local council(s).

“Meanwhile, EP4W would provide financial resources and/or assistance for the initial business operation,” EP Manufacturing said.

According to the filing, the agreement is intended to enable EP4W and Cahaya Bumi to obtain the local exclusive distribution agent or franchise holder for the country and assembly of EVs from a reputable EVs manufacturer in the form of complete built-up and complete knocked-down, and to establish a production and localisation plan to assemble the EVs in Malaysia.

EP Manufacturing stressed that there would be a redefinition of the present EVs market in Malaysia, which would help in the innovation and the establishment of EVs industry in Malaysia by bringing in the technology know-how of EVs.

EP Manufacturing’s shares fell 3.7% to RM1.04.


Recent Posts

TikTok’s rules deter researchers from crunching data on users, misinformation

As TikTok gets more popular, researchers at leading academic institutions want to study what users…

12 hours ago

China hosts esports’ biggest moment with Tencent at the wheel

China scythed nearly $600 billion off Tencent Holdings Ltd.’s market value in its crackdown on…

12 hours ago

Goldman Sachs in talks with Malaysia to resolve latest 1MDB clash

Three years after Goldman Sachs Group Inc. agreed to fork over more than $5 billion…

13 hours ago

Concern mounts for ethnic Armenians in Karabakh

SHUSHA, AZERBAIJAN – Concern was growing for ethnic Armenians in Nagorno-Karabakh on Sunday as Azerbaijani…

14 hours ago

Ten-man Man City extend Premier League lead, Man Utd bounce back at Burnley

MANCHESTER – Manchester City moved five points clear at the top of the Premier League…

14 hours ago

MACC arrests former pol-sec to senior minister, company owner for alleged book printing graft

KUALA LUMPUR – A former political secretary to a former senior minister was one of…

1 day ago