This article first appeared in Digital Edge, The Edge Malaysia Weekly on July 24, 2023 - July 30, 2023

Most people are holding off on trading in their petrol vehicle for an electric one mainly because of a lack of charging infrastructure. But Blueshark Ecosystem Sdn Bhd (BESB) does not want that to put road users off green mobility.

Instead, the electric scooter company’s solution to the conundrum was to develop a battery-swapping ecosystem. BESB is a wholly owned subsidiary of China’s Sharkgulf Technologies Group, the brand owner of Blueshark. BESB works with EP Manufacturing Bhd (EPMB), which manufactures and distributes Blueshark vehicles in Malaysia and in the Asean region. 

Jin Chan, BESB group chief operating officer for Asean, says: “At Blueshark, we truly believe that battery-swapping technology is key to accelerating electric motorcycle adoption in Malaysia, not just in terms of speed and convenience but also to overcome the key stigmas of EVs (electric vehicles) — long recharge times, range anxiety and battery lifecycle management.

“By providing consumers with access to a superior yet affordable product, powered by a viable, renewable energy solution supported by our end-to-end ecosystem, we can help accelerate this goal.”

Its swappable energy solution — the only company offering such a system in Malaysia currently — is a game-changer, as there are only about 1,000 EV charging stations throughout the country and it opens up new possibilities for greater market acceptance because of its convenience, says Chan.

As the price of electric mobility, especially cars, is still beyond the reach of the masses, at a starting price of RM100,000, electric scooters are a more viable alternative for daily commutes.

In March, Blueshark rolled out its first range — the R series, comprising R1 and R1 Lite — in Malaysia.

“The R1 is a fully featured dual-battery model with advanced sensors and displays while the R1 Lite is the more affordable but almost as fully featured model, with both having features and functionalities you don’t normally see in electric motorcycles,” Chan says.

The company is currently working on software solutions for its users on a Software-as-a-Service model, which will consist of a plug-and-play system in areas such as fleet operations, retail management, battery-as-a-service and other renewable-energy innovations.

It has also partnered with CIMB Bank Bhd to offer a 0% interest loan — a first for EVs — with an instalment payment plan of up to 60 months for its R series. Chan adds that the company is also in talks with other potential retail partners to expand its offerings.

Malaysia was chosen as a test bed for the rollout of Blueshark in Asean — which has about 220 million registered motorcycles — because there is the likelihood of greater market acceptance, with the convenience of its swappable battery solutions, says Chan.

A manufacturing and assembly hub for Blueshark products for the Asean market is in the works.

He says: “Once fully commissioned, we will no longer be restricted by the number of APs [approved permits] every time we import the vehicles. So, our customers can expect faster delivery and this would naturally contribute to a gradual uptick in sales.

“Over the next five to 10 years, the Southeast Asian countries are expected to see a significant growth in the two-wheeler EV market, surpassing Europe and East Asia. The total potential two-wheeler EV market in the region is expected to exceed 40 million by 2030.”

Keeping to its commitment to sustainability, BESB is in the midst of charting a road map for battery recycling as part of its renewable energy commitment, which it hopes to release by year end.

“The battery packs have an average lifespan of four to five years — about 2,000 charging cycles — but after they have been depleted to a certain level, they still have utility and can be repurposed as a power source: for example, as an energy store for commercial use or to power small homes or machinery, particularly useful for remote areas or off-grid applications,” says Chan.

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