KUALA LUMPUR, November 13 – Sersol Bhd has partnered with Thailand energy giant and EV motorbike specialist Takuni Group PCL to anchor business growth plans within Malaysia, Indonesia and Thailand. The joint-venture was inked in Bangkok announcing Sersol’s investment portfolio diversification to incorporate a Malaysian entity to handle manufacturing, marketing and distribution of EV motorbike batteries, EV batteries and charging platforms throughout the region.
The Sersol-Takuni JV will set up a battery factory in Malaysia, harnessing energy storage and improving battery quality and efficiency as well as producing high quality charging platforms for EV motorcycles and e-scooters. We are absolutely excited about partnering with Takuni Group – an Energy giant in Thailand listed on Thailand’s Stock Exchange (SET), with a market capitalisation of 2.864bil THB. Together, we are upbeat about greening the motor scooter and motorcycle segments.
We are meeting critical needs of the hour in the ongoing global energy and climate crisis. In merging our resources and capabilities, Sersol and Takuni’s competitive advantage is embodied in our ability to implement the collection of carbon credits. Additionally, we plan to offer leasing programmes for e-hailing bikes in these three markets. The new joint venture company naturally extends Takuni Group’s strengths in providing comprehensive services, focusing on energy storage. In elevating usage of “green energy” for EV motorbikes and e-scooters.
this partnership will contribute to accelerating the renewable energy transition mandate in several countries in Southeast Asia to achieve “Net Zero” carbon emissions by 2050. We expect the new joint-venture company to generate RM900 million sales across Malaysia, Indonesia and Thailand,” Datuk Wira Justin enthused. In a report by Meticulous Market Research Pvt Ltd, the e-scooters market is expected to record a Compound Annual Growth Rate (CAGR) of 28.9% from 2022 to 2029 to reach $625.03 billion by 2029.
Much of the growth potential stems from increasing investments by OEMs and ride-hailing companies spurred by favourable government policies and regulations and increasing subsidies for EVs. Statista predicts the EV motorbike segment will grow at a CAGR of 10.2% to reach $102 billion US Dollars by 2030. We plan to capture 10% of market growth garnered predicted in both segments in Malaysia, Thailand and Indonesia as drivers of growth stem from increasing usage of e-scooters & bikes in courier and e-commerce delivery applications, and decreasing battery prices offered to consumers.
Additionally, the growing number of investments by government authorities in the development of EV charging infrastructure has spiked growth predictions in this forecasted period. The JV Company will introduce battery SWAP charging stations, where users can quickly exchange batteries without waiting to recharge. This will accelerate the adoption of e-scooters and EV motorbikes in all three nations. Charging convenience will be a significant success factor for our business.
