EPMB Manufacturing aims to mass-produce 20,000 electric cars annually for the Southeast-Asian market, with the collaboration of California-based SAEAN Group, both are looking to debut into the manufacturing of fourwheeled electric vehicles.
This comes on the back recently announced venture into electric scooters, this time the focus is on A-segment’s 4-seater 5-door electric car. The strategic alliance may also look into manufacturing heavy industry EVs for the construction sector. Both parties have signed a Memorandum of Agreement to kick-start the partnership.
Under the partnership, SAEAN will offer technical and design know-how for the EVs to be jointly-developed with EPMB. Both parties will also explore an expansion programme to cover export opportunities. Meanwhile, EPMB will provide support in terms of resources and market information necessary for the development of EV, and actively strive for mass production, supply and sales. The Group will leverage its long-built experience in supplying major automobile parts to several OEMs.
SAEAN is a fast-growing EV player and has developed A-segment’s 4-seater 5-door electric car and many other electric vehicle technologies. Founded in 2013, SAEAN currently owns over 120 EV-related patents with its Research and Development Centre in South Korea. Under its expansion plan, a sports EV model will begin limited production next year for the U.S. market. The company is also en route to a listing on Nasdaq soon.
Following the MoA, EPMB and SAEAN will iron out further details on the size of investments by both parties, the location of manufacturing, product prices and the timeline for commercial roll-out.
