PETALING JAYA: Tree Technologies Sdn Bhd (Treeletrik), a Malaysian home-grown electric vehicles (EV) maker with a presence in the Asean market and a subsidiary of Nasdaq-listed Ideanomics, has signed a partnership to supply 200,000 units of its fully electric motorbikes to Indonesia via distributors PT Pasifik Sakti Enjiniring and the Nahdatul Ulama Board (PBNU).
The partnership extends Treeletrik’s regional presence as a key player in promoting electric mobility, supporting Asean’s energy transition agenda.
The partnership positions Malaysia as a key EV manufacturer and first regional supplier to export units in Asean, in line with the region’s evolving energy landscape. The region’s ultimate goal of decreasing the level of final energy consumption in the road transport sector by 2040 paves the way for EV makers like Treeletrik to continue building a progressive EV ecosystem.
Commenting on the cooperation agreement signing with Pasifik Sakti, Treeletrik CEO Datuk Viswananthan Menon (pix) said it will further its efforts on the regional stage through this partnership to provide a transportation option that is clean, safe, and affordable, with our advanced EV technology.
“Our 100% electric motorbikes offer customers long-term cost savings and more importantly contribute towards an overall positive impact to the environment.”
Spanning three years, the agreement will see Treeletrik supply electric motorbikes to be jointly marketed by Pasifik Sakti and PBNU for the Indonesian market. Pasifik Sakti which operates the electric motorbikes brand Molinus (Motor Listrik Nusantara), will now add Treeletrik’s fully electric motorbikes to its portfolio. A joint venture is also in the pipeline between Treeletrik and Pasifik Sakti to establish an assembly plant in Indonesia in anticipation of growing demand for the electric motorcycles. The move will serve as a positive boost to Indonesia’s economy through talent development, job opportunities and technology transfer.
The new electric motorbike range, certified in Europe and Malaysia with UNECE WP.29, will feature Treeletrik’s signature quick swap lithium battery technology. With an average speed of 65-90 km/hour, the e-motorbikes have a travel range of 85-120 km. Aligned with the Indonesian government’s program concerning the Acceleration of the Battery-Based Electric Motor Vehicle Program, the Indonesian parties are optimistic about demand and set sales targets at 10,000 units for the year 2021 and completing the 200,000 units by end of 2023.
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 Gebeng, Pahang. 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. Other markets Treeletrik is eyeing as potential customers include the Philippines and Cambodia.
Ideanomics acquired 51% ownership of Treeletrik in 2019. The company has since begun organising itself for growth in the Asean region to tap the region’s heavy reliance on two- and three-wheeled transportation.
