US$48.39 Million Electric Motorcycle Assembly Plant To Be Set Up In Malaysia's Pahang - MATRADE

From Nurul Hanis Izmir NANNING (China), Sept 14 (Bernama) -- A factory to assemble electric motorcycles costing US$48.39 million (RM200 million) will be developed in Gambang of Malaysia's Pahang state, and is expected to be completed in two years, said the Malaysia External Trade Development Corporation (MATRADE). Its chief executive officer (CEO), Dzulkifli Mahmud, said the project would be a joint-venture between a Chinese company and two Malaysian firms. "The strategic cooperation showed the Chinese investor's confidence in Malaysia's ability as a good investment destination and gateway to penetrate the ASEAN market. "The completed products will be marketed not only in the local market but also to other ASEAN countries," he said. He told reporters this after attending the signing of a memorandum of understanding (MoU) for the project between China's Tianneng Group and two Malaysian firms, namely Fortune A Global Sdn Bhd and Tree Movement Sdn Bhd at the 13th China Asean Expo (CAEXPO). Upon signing the agreement, Tianneng will supply the products and technical support to train workers for the assembly of the products, while the Malaysian companies will work closely in other matters including manufacturing of the electric vehicles and marketing. To be known as Treeletrik Eco-bikes, the motorcycle is environmentally-friendly and will reduce pollution as well as carbon emission. Dzulkifli said the joint-venture would also create job opportunities for the local residents. The factory is sited in a strategic location in Gambang and is close to an automotive university, and will add to the rapid development in Pahang, which is also part of the East Coast Economic Region (ECER), Dzulkifli said. Also present was ECER Development Council CEO Jebasingam Issace John. Jebasingam said the project would also propel Kuantan Port as the gateway not only to ASEAN but also Asia Pacific. "We believe the entry of the Chinese investment will create more job opportunities and increase the economic growth in the ECER. "CAEXPO has proven to be an effective and strategic platform to showcase various investment opportunities in the ECER to potential investors," he added. CAEXPO, jointly organised by China and 10 ASEAN countries, aims at promoting cooperation and common development of China and ASEAN. CAEXPO is held on Sept 11-14, 2016. MATRADE is the national trade promotion agency. --BERNAMA