EP Manufacturing Berhad has secured the exclusive right to assemble and distribute the Lingbao-developed 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.
The agreement which is 5 years plus 5 years, gives EP access to Lingbao auto brands including Lingbox which is owned by China-based Jiangsu Jemmell New Energy Vehicle Co. 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’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.