Cellumed Expands Overseas Entry of Secondary Battery Platform

Cellumed is expanding its electric two-wheeler and secondary battery swappable battery platform business to Southeast Asia, the world's largest two-wheeler market.

On the 17th, Cellumed announced that it signed a Memorandum of Understanding (MOU) and a Non-Disclosure Agreement (NDA) with Philippine Company A for the electric two-wheeler and secondary battery swappable platform business.

Company A is a large corporation with sales exceeding 1 trillion KRW across transportation, logistics, infrastructure, real estate, hotels, telecommunications, and gas businesses. It employs about 10,000 people.

The agreement focuses on ▲ localization and installation of electric two-wheelers and swappable batteries ▲ pioneering and selling electric two-wheelers, swappable battery solutions, and ESS products in the Philippine market ▲ establishing tripartite partnerships with local governments such as Davao City in the Philippines ▲ strategic cooperation and alliances for other related businesses.

Starting from this agreement, Cellumed is pursuing MOUs with group companies in Vietnam and Indonesia to target the Southeast Asian market. The company plans to expand its secondary battery business beyond Southeast Asia to India and other regions.

A Cellumed representative said, "Due to the NDA, we cannot disclose the company name after discussions with various companies to enter Southeast Asia, the world's largest two-wheeler market," but added, "We decided to first establish a cooperative relationship with a key Philippine conglomerate that showed the most active interest." The representative also noted, "Recently, the Philippine government has been actively promoting eco-friendly policies," and added, "We expect the swappable battery platform business, including electric two-wheelers, to accelerate significantly."

Cellumed is preparing for mass production of electric two-wheelers in Korea based on a standardized swappable battery model. Detailed consultation procedures are underway with multiple local governments to establish mass production facilities. Cellumed plans to fully launch its global market entry as soon as it builds a stable supply system for electric two-wheelers and swappable batteries domestically.

Kang Yong-joo, Vice President of Cellumed, said, "The Philippines, with a population of over 100 million and, along with Vietnam and Indonesia, has the largest two-wheeler market in Southeast Asia," adding, "We expect momentum to build in expanding overseas business."