{
  "id": 6279813,
  "title": "Ni Hsin shifts into high gear with EV diversification",
  "url": "https://urgent.news/2026/09/08/ni-hsin-shifts-into-high-gear-with-ev-diversification",
  "topic": "world",
  "section": "World",
  "published": "2026-09-08T12:45:23.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/09/1528521/ni-hsin-shifts-high-gear-ev-diversification"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: Ni Hsin Group Bhd is accelerating its expansion into electric vehicles (EVs) to bolster its electric motorcycle operations and market presence. The company, operating since 2021 through subsidiaries Ni Hsin EV Tech Sdn Bhd and EVSend Sdn Bhd, plans to expand its EV assembly, promotion, and marketing activities. Currently, Ni Hsin runs an EV assembly facility in Seri Kembangan, Selangor, assembling electric motorcycles using semi-knocked-down and fully assembled components, including the Ebixon Torq, Bold, Kruz, TC Max, and CPX models. The company is also targeting corporate and fleet customers, focusing on last-mile logistics operators. Ni Hsin is developing its OEM assembly capabilities to attract third-party EV manufacturers. In April 2026, Ni Hsin signed a contract manufacturing agreement with MARS Greentech Sdn Bhd to assemble certain electric two-wheelers. The firm is exploring an exclusive local assembly arrangement for Surron electric off-road motorcycles with China's Chongqing Qiulong Technology Co Ltd. Ni Hsin has also signed an MOU with Apex Ventures (Labuan) Ltd to market and distribute its products in Turkey and Middle Eastern markets. However, the EV business remains unprofitable, generating RM1.43 million in revenue but incurring a RM1.43 million net loss in 2026. The Malaysian EV market saw a 104.1% year-on-year increase in new EV registrations to 57,236 vehicles in 2025, projected to grow by another 59.9% to 91,527 vehicles in 2026 and reach 274,401 vehicles by 2030, with a 36.8% compound annual growth rate. The proposed diversification aims to capitalize on the growing EV market while creating new revenue streams. However, Ni Hsin acknowledges risks such as intense competition, fluctuating government incentives, rapid technology changes, reliance on third-party suppliers, and the need for skilled EV personnel. The diversification will not immediately impact earnings, net assets, or gearing and requires shareholder approval at an extraordinary general meeting.",
  "summary": "KUALA LUMPUR: Ni Hsin Group Bhd is diversifying its business into electric vehicles (EVs) as it seeks to scale up its electric motorcycle operations, OEM assembly and market reach.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}