In many parts of the world, particularly in Asia, electric motorcycles are quickly becoming the kind of vehicle that individuals and businesses are looking forward to investing.
While battery technology has not yet been able to make significant strides in improving the charge life, range, or performance of electric two-wheelers, the industry has developed around them.
More people realise that electric mobility is the future, battery technology becomes cheaper, and batteries become available.
Among those taking advantage of this shift in mindset is one manufacturer based out of Singapore – GSS Energy Pvt. Ltd. Recently announced that it had acquired the Edison Motors (EM) brand of electric motorbike manufacturer.
Acquisition
The transaction, completed at the end of last month, cost SG7.53 million (or roughly USD 5.5 million).
According to a press release, a subsidiary of Singapore-based company GSS Energy via Giken now owns Edison’s electric vehicle battery and motor technology patents.
The acquisition will allow the companies to create a more robust electric scooter and motorcycle platform in the region.
Based on GSS Energy’s press release, it seems that the purchase was mainly for the Thai company’s electric two-wheeler platforms.
However, we will now see many more scooters in future.
While the GSS Energy acquisition of Edison Motors of Thailand certainly surprises many industry experts. It is a move that can be seen as rather strategic by some.
The acquisition will allow GSS to offer a wider variety of products and services in Southeast Asia, a region experiencing solid automotive sales.
The acquisition also enables GSS Energy to bring its electric motorcycle technology to Thailand and expands the potential market for its products.
A manufacturer of automotive gears and components.GSS Energy, will leverage Edison’s manufacturing capabilities and expand into electric 2-wheelers.
It is the first overseas acquisition by the Singapore-based company, but hopefully not last.
On the other hand, Giken, based in Singapore, builds its own scooter Iso Uno-X. The Iso Uno-X gets the 8.5 kW electric motor.
via Business Times
