has secured the exclusive right to assemble and distribute the Lingbox electric vehicle, through a five-year deal that allows EPMB the option of using its own brand name for the EV in the Malaysian and Indonesia markets.
The agreement takes effect of January 1, 2023 and will expire on December 31, 2027, and it shall be automatically renewed for another five years, subject to terms and conditions. This venture is also a step towards EPMB’s goal of trading carbon credits, according to the company. The Lingbox is one model from the Lingbao brand, that is owned by the Jiangsu Jemmell New Energy Vehicle Company. When the Lingbox is commercialised for the Malaysian market, car produced from this venture are expected to be priced below RM100,000, thus becoming of of the most affordable EVs in the country, according to EPMB.