Tuesday 16 Jul 2024
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KUALA LUMPUR (Oct 12): Ni Hsin Group Bhd (formerly known as Ni Hsin Resources Bhd) has partnered with MNA Energy Sdn Bhd (MNAE) to develop battery technology for electric motorcycles (EV two wheelers).

Ni Hsin disclosed in a Bursa Malaysia filing on Tuesday that its wholly-owned subsidiary Ni Hsin EV Tech Sdn Bhd has entered into a heads of agreement with MNAE for such collaboration that also includes participation in the latter’s business and growth.

Established in 2016, MNAE is principally involved in producing battery energy storage systems for electric mobility and stationary applications such as telecommunications towers and solar energy farms.

It is pioneering Electric Mobility-as-a-Service (EMaaS) in Malaysia, by developing SmartSwap — a game-changing turnkey solution for a battery swapping infrastructure for electric motorcycles.

MNAE also has been awarded research grants by the Ministry of Science, Technology and Innovation (MOSTI) for the development of next-generation battery technology.

NI Hsin EV Tech managing director Khoo Chee Kong said the company sees EV two wheelers leading the adoption of alternative power sources that can reduce carbon footprint and transition towards a greener economy.

“We are developing, in collaboration with MNAE, an advanced battery system and a standardised battery swapping infrastructure for EV two wheelers that will be convenient to riders who can easily swap their depleted batteries with fully-charged ones at stations that we are setting up. We believe this will boost the use of EV two wheelers in urban areas,” Khoo said in a press release.

He added that the collaboration with MNAE complements Ni Hsin’s venture into the e-mobility business, as battery systems are critical to the EV two wheelers it is developing with Dongguan Tailing Electric Vehicle Co, Ltd. 

Shares in Ni Hsin closed unchanged at 13.5 sen on Tuesday, for a market capitalisation of RM69 million.

Edited ByJenny Ng
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