EPMB WINS EXCLUSIVE RIGHTS TO ASSEMBLE & DISTRIBUTE CHINA’S BEST-SELLING MINI-EV, LINGBOX
EPMB has the option to use its own brand name under the 5-year deal
KUALA LUMPUR, 28 December 2022 — Automotive parts manufacturer EP Manufacturing Berhad (EP制造; “EPMB’’ or “Group”) has secured the exclusive right to assemble and distribute the Lingbao-developed（凌宝） electric cars in the Malaysian and Indonesian markets. The five-year deal also allows EPMB the option to use its own brand name for the electric vehicle (“EV”).
EPMB’s wholly-owned subsidiary, EP 4Wheeler Sdn Bhd（EP 四轮汽车有限公司）, had on 27 December 2022 signed an Exclusive Distributor Agreement with Hubei Dongfeng Power Auto Trade Co. Ltd（湖北东博汽车贸易有限公司） and Xiamen Tsingyan Hylong Motor Technology Co. Ltd（厦门清研海龙汽车科技有限公司） to assemble and sell the right-hand drive LINGBOX cars（凌宝Box）. EPMB is granted the right to distribute the cars under its own name or the brand name of LINGBOX Auto or Qingyan Hailong（清研海龙）. This venture is a step in the right direction towards achieving EPMB’s carbon credits trading ambition.
The agreement is effective from 1 January 2023 and expires on 31 December 2027 and shall be automatically renewed for another five years, subject to terms and conditions. LINGBOX is one of the models under the Lingbao auto brand, which is owned by China-based Jiangsu Jemmell New Energy Vehicle Co. Ltd（江苏吉麦新能源车业有限公司）.
LINGBOX is ranked as the top 10 best-selling mini-sized EV in China. It is gaining popularity due to its attractive design and good functionality. Once commercialised, the cars produced under this venture are expected to be one of the most affordable EVs below RM100,000 in Malaysia.
EPMB acting Chief Executive Officer Ms. Lim Sim Yee(林心怡) said:
“This deal with Hubei Dongfeng and Xiamen Tsingyan further cements EPMB’s presence in the EV business, in addition to the partnership with SAEAN Group（新安集团） to mass-produce A-segment cars and the deal to manufacture Blueshark-branded（蓝鲨品牌） electric bikes for the Southeast-Asian market.
EPMB is excited to be associated with the Lingbao brand, which is one of the fastest growing auto brands in China. With the rising appetite for EVs in Malaysia and Indonesia, the Group foresees a good response for LINGBOX and we hope to bring in more new models to capture a bigger share in the regional EV market. This would create another revenue stream for EPMB.”
LINGBOX is designed as a urban electric mobility solution with safety and affordability in mind. The first LINGBOX car — Lingbox BOX EV — hit the market in December 2020.
EPMB’s venture into electric cars began following the signing of Memorandum of Agreement with California-based SAEAN Group Inc on 17 October 2022 to mass-produce 20,000 electric cars annually for the Southeast-Asian market. Earlier, the Group has announced its diversification into the manufacturing of electric bikes.
To recap, on 26 September 2022, EPMB’s wholly-owned subsidiary, EP Blueshark Sdn Bhd（EP Blueshark私人有限公司）, received the Manufacturing License from the Ministry of International Trade and Industry to undertake the activity of assembly of electric bikes. EPMB has partnered with China-based Sharkgulf Technologies Group Ltd（鲨湾科技有限公司） to assemble, manufacture and distribute the latter’s Blueshark-branded two-wheeled EVs in Malaysia and other ASEAN countries.
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