South Korean eco-friendly electric two-wheel vehicle supplier Verywords Co Ltd inaugurated its plant to assemble electric scooters in Kandal province, said a senior official of the company. It will compete with existing suppliers in the domestic market in the country.
The electric motorbike assembly plant was inaugurated on Friday by the Minister of Mines and Energy Suy Sem and attended by Park Jung-wook, Ambassador of South Korea in Cambodia as well as Rho Hyun-jun, Country Director of Korea International Cooperation Agency along with other national and international guests.
Andy Chun, General Director of Verywords, told Khmer Times yesterday that the plant for an e-Mobility system that includes a battery, charging station and electric scooters is expected to assemble approximately 3,000 units annually in the first phase and plans to scale up the capacity to more than 5,000 units per year in the next phase after three years of construction.
Chun further said that Verywords is considering exporting its finished products to other markets in Southeast Asia region such as Thailand, Vietnam and Malaysia by strengthening its assembly capacity with over 50 local workers who have worked in different sections of the facility such as assembly, maintenance, sales and management.
“We want to provide our scooter products in the local market. We will compete our model with other domestic suppliers at a lower price,” said Chun, adding that Verywords plans to sell its scooter products to local customers under $2,000 per unit to compete with existing suppliers such as Honda Scoopy that are priced at about $2,500 per unit.
Sem said Verywords Assembly Factory is in the Mekong Logistic Center in Dei Eth Commune, Kien Svay District of Kandal province. “The establishment of the factory for assembling electric motorcycles will help promote the use of electric vehicles in the country, reduce environmental impacts and lead to more efficient use of energy in the transport sector.”
“We hope to accelerate the transition and the employment opportunities it creates will foster inclusive growth and prosperity in the country,” said Jung-wook.
Verywords Co Ltd. is expected to assemble approximately 3,000 units of electric scooters annually in the first phase. Verywords
The e-Mobility plant was built on an area of 2,400 square metres in the industrial complex about 20km from downtown Phnom Pen with the support KOICA Inclusive Business Solution (IBS) project.
KOICA IBS project has been promoted from 2021-2025 with the aim of establishing a sustainable e-Mobility ecosystem for carbon reduction in Cambodia, where greenhouse gas emissions are rapidly increasing due to rapid economic growth, and providing employment and business opportunities in the country.
KOICA’s Hyun-jun said the Verywords Assembly Factory is also established for ‘Carbon Neutral Based on Korean Green New Deal Technologies for Circular Economy’ project while the international cooperation agency emphasizes the 5Ps—People, Peace, Prosperity, Planet and Partnership in implementing sustainable development projects worldwide.
“These values are close to the sustainable development goals, which are a global blueprint for ensuring sustainable development and addressing various socio-economic and environmental issues,” said Hyun-jun. The e-Mobility system products are based on the battery swap system (BSS) and consist of a battery, a charging station and electrical scooters.
Verywords has identified the purchasing power and preferences of local customers through market research and plans to initially produce a 3kw small e-Scooter as its flagship model and to expand its market share through diversification of product types and technological advancement such as improving the developed kiosk-type charging station model.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.