I. KYMCO/KC and PTT Establish Joint Venture Brand “Aionex” to Enter the Southeast Asian Market

On August 16, 2023, the Stock Exchange of Thailand issued an announcement:　Notification of the joint venture and the establishment of PTT’s subsidiary to operate the business of two-wheeler electric vehicle production for sale, including battery swapping service．

According to the complete news article in the attached announcement, ArunPlus(PTT’s 100% owned subsidiary）has formed a joint venture, Aionex, with KYCMO and KYMCO’s private equity Treasury Capital (KC) of Taiwan China. ArunPlus，KYMCO and KC hold 51%, 29% and 20% of the shares, respectively.

Aionex’s vision aims to be a leader of two-wheeler electric vehicle in Thailand and ASEAN which include not only to sale and produce two-wheeler electric vehicle, but also to provide battery swapping service. The establishment of Aionexaligns with PTT Group’s investment strategy in Future Energy andis expected tobecompleted and to start operation by 2023.

II. The winners of the 2023 German Red Dot Award have been Announced, with YADEA Electric Motorcycles Securing Awards for Two of Its Products!

 The Yadea Keeness Electric Motorcycle is designed for a young target group, including beginners. The silhouette of the motorcycle is inspired by fighter jets, while the geometry and fairing are characterised by sharp lines and clearly defined surfaces, which together give the impression of power and aggressiveness. In place of the fuel tank, a 16-litre storage compartment is seamlessly integrated into the frame. Various safety systems and guards assist even inexperienced riders. The jury found that the Keeness Electric Motorcycle, with its powerful, slightly futuristic look, would make even beginners excited about electric motorcycling.

The S9 Max e-moped can travel up to 200 km on a single charge thanks to an innovative 48 V/48 Ah battery combined with a specially designed range extension system. The moped’s handling is designed to provide a comfortable riding experience, even over long distances. Smart, contemporary technologies such as keyless operation, sensors and voice control enhance comfort. The distinctive appearance of the S9 Max, characterised by a geometric design language, is both elegant and uncomplicated, as the jury said. The use of a carbon-fibre coating on the handlebar grips and rear fork also conveys a high-quality impression.

III. 2023 China (Guigang) E-Vehicle Industry Development Forum will be Held from September 8th to 10th.

 The China Bicycle Association is set to hold a series of events for the 2023 China (Guigang) E-Vehicle Industry Development Forum in Nanning and Guigang, Guangxi from September 8-10.

The theme of these events is “New Era, New Opportunities, New Challenges.” Comprising the main forum, an export-focused meeting, and electric motorcycle cultural activities, these events will welcome representatives from countries like Indonesia, Thailand, Vietnam, Cambodia, Laos, and Myanmar. These representatives will provide insights into their industry development and market conditions, aiming to create a high-end exchange and cooperation platform for Chinese and ASEAN businesses, integrating them into the RCEP electric motorcycle industry chain, supply chain, and value chain.

IV. The China Chamber of Commerce for Motorcycle(CCCM) has released the list of top ten Chinese electric motorcycle sales enterprises (groups) for January-July 2023.

From January to July, the top 10 electric motorcycle sales companies (groups) were Yadea 1.4421 million units, Luyuan (395,500 units), Tailg (344,900 units), Sunra (243,600 units), Zongshen (216,300 units), Huaihai (105,300 units), Bus New Energy (64,100 units), Jinyi (56,700 units), Lovol (35,500 units), and Loncin (28,100 units).

V. The Italian Two-Wheeler Association, ANCMA, has Disclosed the Registration Volume of Mopedsand the Top 20 model rankings for January-July 2023.

 From January to July 2023, the registration volume for motorcycles under 50cc and Mopeds in Italy stood at 12,401 units, marking a 13.38% decrease compared to the 14,317 units during the same period the previous year!

Among the Top 20 in the registration volume rankings, two mopeds from China are included: YADEA’s T9L PLUS and Niu’s N-SERIE.

VI.  Grand View Research, Inc: Electric Motorcycle Market to Hit $121.07 Billion by 2030.

 SAN FRANCISCO, Aug. 22, 2023 /PRNewswire/ — The global electric motorcycle market size is anticipated to be valued at USD 121.07 billion by 2030 and is expected growth by CAGR 19.0% over the forecast period, according to a new study by Grand View Research Inc. The electric motorcycle industry is expected to expand due to the growing consensus regarding the increasing concentration of greenhouse gases in the environment. The government introduced favorable tax and purchasing subsidies in economies such as Asia Pacific, North America, and Europe is also supporting the market growth. Furthermore, the development of battery technology, including electric motorcycles in delivery fleets and mobility as a service, is further acting as an opportunity for the uptake of electric motorcycles. However, due to the underdeveloped charging infrastructure, range anxiety among the end-users, and the high vehicle cost are among the challenges the market faces over the forecast period.