EP Manufacturing Bhd’s wholly-owned subsidiary, EP Blueshark Sdn Bhd has entered into a Memorandum of Understanding with Petronas Dagangan Berhad and Blueshark Holding Limited on the possible use of Petronas Stations for electric mobility services.
Under the MOU, the parties agreed to develop the electric 2-wheeler battery swapping business as the scope of collaboration including each having their roles for the pre-pilot and pilot phase with Petronas to identify suitable stations and provide space for battery, battery swap station, and installation. While the other two will supply, operate, and maintain hardware (bike, battery, battery swap station, spare parts, service center equipment) supply, operate, and maintain software (front and back-end), provide technical know-how, and collect and provide access to data collected during the pre-pilot and pilot
phase.
EP and Blueshark will also fully fund CAPEX, operation, and maintenance costs for the pre-pilot & pilot including electricity for the battery swap station.
Following the successful pilot, the Parties agree to have Setel as the customer fronting app and main payment channel, to utilise Petronas leasing platform for B2B, potential JV for the leasing business and Petronas to have the option to invest in the BSS and vehicle ownership
The MOU is for 1 year which is intended for all parties to undertake a strategic collaboration with one another for the development of an electric 2-wheeler battery swapping business in respect of the electric mobility space in Malaysia.
