Ni Hsin seeks shareholder nod for EV diversification

By the Editorial Team · Wednesday, September 9, 2026

Ni Hsin Group Bhd is seeking shareholder approval to expand its business into the electric vehicle sector by growing its electric motorcycle operations through contract manufacturing and new market ventures. This move aims to capitalize on Malaysia’s rapidly growing EV market, with the company projecting its EV segment to become a meaningful contributor to profits and net assets in the future.

Ni Hsin Group Bhd is seeking shareholder approval to diversify its core business activities to include electric vehicles (EVs) as part of its strategy to expand its electric motorcycle operations. The company aims to grow through contract manufacturing, the introduction of new products, and broader market outreach.

While the group’s EV segment remains in its nascent stage and has yet to generate positive earnings, management anticipates that the business could become a significant contributor to net profit over time, potentially accounting for at least 25% of the company’s net assets. For the financial year ended June 30, 2026, Ni Hsin’s EV operations recorded revenue of RM1.43 million but posted a loss after tax of the same amount.

Ni Hsin began its EV business activities in 2021 through its fully owned subsidiary Ni Hsin EV Tech Sdn Bhd. The company currently assembles and markets electric motorcycles, including the EBIXON TORQ, BOLD, KRUZ, TC Max, and CPX models, at its manufacturing facility in Seri Kembangan, Selangor.

In April 2026, Ni Hsin expanded into original equipment manufacturing by entering a contract manufacturing agreement with MARS Greentech Sdn Bhd to assemble selected electric two-wheeler models. The company is targeting further growth by broadening its product range to include electric off-road motorcycles and by enhancing its reach into corporate, fleet, and institutional customers such as government bodies, universities, and last-mile logistics providers.

Additionally, Ni Hsin recently signed a memorandum of understanding with Apex Ventures (Labuan) Ltd to promote and distribute its products, including EVs, with an initial focus on markets in Turkey and the Middle East.

The company highlighted that Malaysia’s EV market is projected to grow by nearly 60% in 2026, reaching an estimated 91,527 vehicles, and forecasts anticipate a compound annual growth rate (CAGR) of 36.8% between 2026 and 2030.

The proposed diversification will not involve the issuance of new shares, acquisitions, disposals, or fundraising efforts, and is not expected to have an immediate impact on Ni Hsin’s earnings or earnings per share.

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