Electric mobility for Indonesia – supporting ASEAN’s energy transition agenda
Tree Technologies Sdn Bhd (Treeletrik), a Malaysian home-grown electric vehicles (EV) maker and subsidiary of Ideanomics (NASDAQ: IDEX), has signed a partnership to supply 200,000 units of its 100% electric motorbikes to Indonesia.The partnership extends Treeletrik’s regional presence as a key player in promoting electric mobility, supporting ASEAN’s energy transition agenda.
The multi-year deal sees a minimum of 10,000 units in 2021, up to 90,000 units in 2022 and up to 100,000 units in 2023. The total deal value is US$274 million.
The partnership positions Malaysia as a key EV manufacturer and first regional supplier to export units in ASEAN, in line with the region’s evolving energy landscape. The region’s ultimate goal of decreasing the level of final energy consumption in the road transport sector by 2040 paves the way for EV makers like Treeletrik to continue building a progressive EV ecosystem.
Commenting on the Cooperation Agreement signing with PT Pasifik Sakti Enjiniring, Treeletrik CEO, Datuk Viswananthan Menon said, “Treeletrik is a pioneer in bringing true electric motorbikes from Malaysia to the ASEAN region and beyond, spearheading a new way of mobility. We are thrilled to further our efforts on the regional stage through this partnership with PT Pasifik Sakti Enjiniring and PBNU in Indonesia to provide a transportation option that is clean, safe, and affordable, with our advanced EV technology. Our 100% electric motorbikes offer customers long-term cost savings and more importantly contribute towards an overall positive impact to the environment.”
The three year agreement will see Treeletrik supply electric motorbikes to be jointly marketed by PT Pasifik Sakti Enjiniring and PBNU for the Indonesian market. PT Pasifik Sakti Enjiniring which operates the electric motorbikes brand, MOLINUS (Motor Listrik Nusantara), will now add Treeletrik’s 100% electric motorbikes to its portfolio.
A joint venture is also in the pipeline between Treeletrik and PT Pasifik Sakti Enjiniring to establish an assembly plant in Indonesia in anticipation of growing demand for the electric motorcycles. The move will serve as a positive boost to Indonesia’s economy through talent development, job opportunities and technology transfer.
The new electric motorbike range is certified in Europe and Malaysia with UNECE WP.29. The range will feature Treeletrik’s signature quick swap lithium battery technology. With an average speed of 65-90 km/hour, the e-motorbikes have a travel range of 85 to 120 km- which aligns with the Indonesian government’s program concerning the Acceleration of the Battery-Based Electric Motor Vehicle Program.
Treeletrik’s approach to mobility eliminates the need for fossil fuels and oil changes, resulting in zero carbon dioxide (CO2) emissions. Additionally, the e-motorbikes offer users long term cost saving benefits, saving above 50% in daily running and maintenance costs.
The EV player began exporting an estimated 50 units of electric motorbikes to Thailand and Indonesia in 2020, with an additional 15,000 units due to be exported this year.Treeletrik’s portfolio ranges from EV mopeds and bikes to EV buses, trucks and cars. The expanded vehicle product line serves the 650 million people in the ASEAN region including Malaysia, Thailand, Indonesia, Cambodia, Vietnam, Philippines, Laos, Singapore, and Brunei.