openPR Logo
Press release

Ideanomics' Partner Tree Technologies to Supply 200,000 E-Motorbikes to Indonesia with Total Deal Value of $274M

04-14-2021 05:20 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Ideanomics Inc.

Total Deal Value of US $274M

NEW YORK CITY, -- SELANGOR, Malaysia, April 14, 2021 -- Tree Technologies Sdn Bhd (Treeletrik), a Malaysian home-grown electric vehicles (EV) maker with a presence in the ASEAN market and a subsidiary of Ideanomics (NASDAQ: IDEX), has signed a partnership to supply 200,000 units of its 100% electric motorbikes to Indonesia, via distributors, PT Pasifik Sakti Enjiniring and the Nahdatul Ulama Board (PBNU). The partnership extends Treeletrik's regional presence as a key player in promoting electric mobility, supporting ASEAN's energy transition agenda.

The partnership positions Malaysia as a key EV manufacturer and first regional supplier to export units in ASEAN, in line with the region's evolving energy landscape. The region's ultimate goal of decreasing the level of final energy consumption in the road transport sector by 2040 paves the way for EV makers like Treeletrik to continue building a progressive EV ecosystem.

Commenting on the Cooperation Agreement signing with PT Pasifik Sakti Enjiniring, Treeletrik CEO, Datuk Viswananthan Menon said, "Treeletrik is a pioneer in bringing true electric motorbikes from Malaysia to the ASEAN region and beyond, spearheading a new way of mobility. We are thrilled to further our efforts on the regional stage through this partnership with PT Pasifik Sakti Enjiniring and PBNU in Indonesia to provide a transportation option that is clean, safe, and affordable, with our advanced EV technology. Our 100% electric motorbikes offer customers long-term cost savings and more importantly contribute towards an overall positive impact to the environment."

The agreement spanning three years, will see Treeletrik supply electric motorbikes to be jointly marketed by PT Pasifik Sakti Enjiniring and PBNU for the Indonesian market. PT Pasifik Sakti Enjiniring which operates the electric motorbikes brand, MOLINUS (Motor Listrik Nusantara), will now add Treeletrik's 100% electric motorbikes to its portfolio. A joint venture is also in the pipeline between Treeletrik and PT Pasifik Sakti Enjiniring to establish an assembly plant in Indonesia in anticipation of growing demand for the electric motorcycles. The move will serve as a positive boost to Indonesia's economy through talent development, job opportunities and technology transfer.

The new electric motorbike range, certified in Europe and Malaysia with UNECE WP.29, will feature Treeletrik's signature quick swap lithium battery technology. With an average speed of 65-90 km/hour, the e-motorbikes have a travel range of 85 to 120 km. Aligned with the Indonesian government's program concerning the Acceleration of the Battery-Based Electric Motor Vehicle Program, the Indonesian parties are optimistic about demand and set sales targets at 10,000 units for the year 2021 and completing the 200,000 units by end of 2023. The full agreement will be disclosed via an 8-K filing.

For the complete news release please visit

https://investors.ideanomics.com/2021-04-14-Tree-Technologies-Inks-Deal-To-Supply-200-000-E-Motorbikes-To-Indonesia

About Tree Technologies Sdn. Bhd.

Tree Technologies Sdn Bhd, owns the EV brand Treeletrik, and is a pioneer company to bring a true road legal electric motorbikes to Malaysia. The company provides transportation options that are clean, safe and affordable, with advanced technology, EV innovations and minimal maintenance. Treeletrik is licensed to manufacture all kinds of EV products from MITI.

In March 2019, Ideanomics acquired a controlling stake in Tree Technologies Sdn Bhd. The combined organisation accelerates the adoption and affordability of EV production, extending Treeletrik's portfolio from EV mopeds and bikes to EV buses, trucks and cars. The expanded vehicle product line serves the 650 million people in the ASEAN region including Malaysia, Thailand, Indonesia, Cambodia, Vietnam, Philippines, Laos, Singapore, and Brunei.

https://www.treeletrik-ev.com

https://ideanomics.com/

Investor Relations and Media Contact

Richard Ho
Tree Technologies Sdn Bhd
richard.ho@treeletrik-ev.com

Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116 New York, NY 10018
ir@ideanomics.com

Valerie Christopherson / Lora Wilson
Global Results Communications (GRC)
+1 949 306 6476
valeriec@globalresultspr.com

Jeremy Ertl
Skyya PR
jeremy@skyya.com

About Ideanomics
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Ideanomics Mobility division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.

The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Ideanomics' Partner Tree Technologies to Supply 200,000 E-Motorbikes to Indonesia with Total Deal Value of $274M here

News-ID: 2270326 • Views:

More Releases from Ideanomics Inc.

Ideanomics Announces Q1 2021 Earnings
NEW YORK, -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") is pleased to announce the release of its 2021 first-quarter financial results on Monday, May 17, 2021. A press release will be issued at approximately 4pm ET, followed by a conference call with management at 4:30pm ET. The Company's senior management team will give prepared remarks followed by a question-and-answer session. Ideanomics encourages investors and analysts to email their questions
Ideanomics Reports $26.8M in Revenues and EV Sales Growth for 2020
Ideanomics Inc (NASDAQ:IDEX ) announced revenues for the year ended December 31, 2020, were US$26.8 million. EV related revenue in 2020 was US$19.5 million versus US$2.7 million in 2019, an increase of US$16.8 million or more than 600%. Ideanomics is very well financed and as of April 1, 2021 had a cash position of US$330 million. The 2020 revenue includes the company's first sales of charging and battery systems. IDEX expects
Ideanomics Acquires US-based Wireless Charging Provider WAVE
Ideanomics Acquires US-based Wireless Charging Provider WAVE
NEW YORK, -- Ideanomics (NASDAQ: IDEX) announced it has signed a definitive agreement to acquire 100% of privately held Wireless Advanced Vehicle Electrification, Inc. ("WAVE") for cash and stock consideration, the material terms of which are disclosed in the Company's related 8-K filing. Roth Capital Partners acted as an advisor to WAVE on the transaction. The acquisition is subject to customary closing conditions. WAVE was founded in 2011 and is a

All 4 Releases


More Releases for Tree

Tree Fellas Tree Service Offers FullService Tree Care in Concord and Surrounding …
Image: https://www.globalnewslines.com/uploads/2025/06/1750604950.jpg Tree Fellas Tree Service is a licensed and insured tree care provider serving Concord, NH, and surrounding communities. The company is known among the residents for providing comprehensive tree maintenance solutions. Their services range from tree removal and tree trimming to lot clearing and emergency response, and many more. Concord's varied weather throughout the year affects tree health in various ways. Heavy rains and damp weather often cause mold and
Top Tree Removal Company Advanced Tree Care Now Provides Tree Removal Service in …
Image: https://www.getnews.info/wp-content/uploads/2024/11/1731076053.jpeg Hackettstown, NJ - Advanced Tree Care, a family-owned and locally operated tree care company, is proud to announce the expansion of their services to include comprehensive tree removal solutions for residential and commercial properties in Hackettstown and the surrounding areas. With a commitment to integrity and building long-lasting relationships with their customers, Advanced Tree Care [https://njtreecare.com/tree-removal/]now offers a range of tree removal services designed to safely and efficiently remove
Professional Tree Trimmers Outline the Differences Between Tree Trimming and Tre …
Image: https://www.getnews.info/wp-content/uploads/2024/06/1717679385.png Professional Tree Trimmers is a top-rated tree service company. In a recent update, the company outlined the differences between tree trimming and tree reduction. West Palm Beach, FL - In a website post, Professional Tree Trimmers outlined the differences between tree trimming and tree reduction. The team said that tree trimming West Palm Beach [https://professionaltreetrimmerswpb.com/lake-belvedere-estates-fl-a-charming-community-in-palm-beach-county/] focuses on precision pruning to maintain the tree's natural form and structure. By selectively removing dead,
AAA Tree Experts Provides Comprehensive Tree Services
Image: https://www.getnews.info/wp-content/uploads/2024/04/1713161432.jpeg As a leading ISA-certified arborist in Charlotte, AAA Tree Experts provides comprehensive tree services to residential and commercial clients. Charlotte, North Carolina - April 15, 2024 - AAA Tree Experts, a leading ISA-certified Charlotte arborist [https://aaatrees.net/arborist-service/], is proud to offer comprehensive tree services to residential and commercial clients. With a team of skilled professionals and a commitment to excellence, AAA Tree Experts ensures the health, safety, and beauty of your
Tree Care Services Market Will Hit Big Revenues In Future | Tampa Tree Service, …
Latest Study on Industrial Growth of Tree Care Services Market 2023-2028. A detailed study accumulated to offer Latest insights about acute features of the Tree Care Services market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends
Commercial Tree Care Service Market Size in 2023 To 2029 | Davey Tree, BrightVie …
The Commercial Tree Care Service research report not only examines the market but also highlights the current and future investment opportunities across various segments. These meticulously crafted details aim to provide stakeholders with a comprehensive understanding of the contemporary investment landscape in the Commercial Tree Care Service market forecast. Furthermore, the research report offers an introductory overview of the market, encompassing applications, definitions, product launches, developments, challenges, and regional analysis.