South Korea’s Misumsystech is providing battery backs and battery management systems (BMS) for the electric version of Thailand’s three-wheel rickshaws Tuk Tuk, as a part of bilateral collaboration in fourth industrial revolution industries, the manufacturer said on Sept. 2.
The move comes after the South Korean President Moon Jae-in visited the country as a part of his six-day tour in ASEAN countries that will also include the Laos and Myanmar.
The Thai government has been looking to power the electrically run Tuk Tuks after it pledged to provide 22,000 of them by 2025 to gradually replace the diesel-powered Tuk Tuks that are cited as a main cause for pollution in the country.
For Misumsystech, the deal marks its first venture outside of South Korea. The firm will develop the battery packs and the BMS in a joint effort with Thai suppliers. Investors in the eTuk Tuks, such as the Loxley Company, signed an MOU with the South Korea firm on the R&D and commercialization of eTuks.
“Our plan is to expand our presence in the Southeast Asian e-mobility market, with a base in Thailand,” said Cheon Chang-yeol, CEO of Misumsystech. “In the future, we will be branching out into countries like the Philippines, Indonesia and India.”
He added that the company would do its best to transform the iconic Tuk Tuk into an “eco-friendly means of transport.”
Industry watchers say that considering the wide availability of two-wheel or three-wheel rickshaws in the Southeast Asian region, local battery makers have a good shot at penetrating the region’s battery business.
Misumsystech is also looking conducting a due diligence for taking part in the charging infrastructure for the electric rickshaws based on its battery technology. The South Korean company has recently been widening its scope to business areas such as EVs, electric buses and hybrid tractors.
The Elec is South Korea’s No.1 tech news platform.