KUALA LUMPUR: Ni Hsin Group Bhd is planning to venture into the business of producing advanced battery for electric motorcycles.

       In a filing today, the cookware maker said it has entered into heads of agreement (HoA) with Seremban-based MNA Energy Sdn Bhd to discuss the proposed venture.

       MNA Energy is principally engaged in the business of producing Battery Energy Storage Systems for Electric Mobility and Stationary applications.

       "The rationale of the HOA is to facilitate the Group’s venture into the e-mobility business," Ni Hsin said.

       "The Proposal will give the Group an advantage of a supply of battery for the EV Two Wheelers supported by a game-changing turnkey solution for a battery swapping infrastructure and facilitate the marketing of the EV Two Wheelers that the Group is developing in collaboration with Dongguan Tailing Electric Vehicle Co Ltd," it added.