A RM100 million memorandum of agreement (MoA) extending over two-years has been awarded to Artroniq for the assembly of Reevo electric bicycles (e-bikes). Operations are expected to begin in February or March after the acquisition …
. Operations are expected to begin in February or March after the acquisition of a RM5 million facility in Batu Kawan, Penang.
A target of 2,000 Reevo e-bikes will be assembled and finished each month and Liaw expects 95% of production will be for export. Artroniq will be looking to work with local authorities to obtain permits and licences for the Reevo.
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