H Sem Motor sees EV bike sales rising
Local electric motorcycle manufacturer H Sem Motor Co expects sales in Thailand to reach 10,000 units next year, and plans to increase the number of charging stations for motorcycles by 30-40 in 2023.
The company, which also produces golf carts and oil-powered tuk-tuks, will stop manufacturing the latter in 2024 in order to produce only electric threewheel vehicles.
Wanchai Leenawatthana, chief executive of H Sem Motor, said the company plans to spend more than 400 million baht developing charging facilities and recruiting more employees to support its growth in the electric vehicle (EV) business.
“We are confident the Thai EV industry will keep growing, thanks to the government’s EV incentive package,” he said.
The company has sold 2,119 electric motorcycles this year, approaching its target of 3,000, while it has 60 charging stations.
H Sem Motor usually sells motorcycles for commercial purposes under business-to-business sales and rental services. Its main customers are in logistics and goods delivery businesses.
The company secured an 18% market share in the commercial electric motorcycle category.
The total number of home-use and commercial electric motorcycles currently stands at 8,783 units.
H Sem Motor partnered with Grab Thailand to help it increase the number of electric motorcycles for its food delivery riders in order to cut carbon dioxide emissions.
“We want to support riders who cannot afford to buy motorcycles. They can rent one and pay only 150 baht a day,” said Mr Wanchai.
Up to 100 motorcycles are rented daily, with the forecast increasing to 500 by the end of this year.
H Sem Motor also joined hands with SCG Group to support its use of electric motorcycles at its factory compounds to reduce carbon dioxide emissions.
H Sem Motor is conducting a feasibility study to invest in a battery factory to support its motorcycle assembly plant, with a capacity of 10,000 units a year, in Ayutthaya’s Bang Pahan district.
The company currently imports batteries from China.
H Sem Motor has a revenue target of 200 million baht for 2022. The company aims to increase revenue to more than 400 million baht next year.