The Board of Directors of EP Manufacturing Bhd (“EPMB" or "the Company”) wishes to announce that the Company has on 31 July 2023 entered into a Memorandum of Understanding (“MoU”) with BAIC International Development Co., Ltd (“BAIC”) to work together on the local production of BAIC’s BJ40P and X55II sport utility vehicles (“SUVs”), along with future right-hand drive (“RHD”) internal combustion engine (“ICE”) vehicles and electric vehicles (“EVs”). EPMB and BAIC also agreed to jointly develop BAIC-branded RHD EVs to cater to Malaysia and other South-east Asian RHD markets.

Please refer to the attachment for further details.

This announcement is dated 1 August 2023.