LVMC Holdings and Coconut Silo's joint venture, Lao Smart Mobility's Kokkok Move, is achieving continuous growth and expanding its services within Laos. Just six months after its launch, the number of subscribers has surpassed 160,000, and completed rides have exceeded 340,000. This demonstrates that Kokkok Move has successfully met the mobility demand within Laos.
LVMC Holdings announced that starting in the second half of the year, it will actively expand the number of operating vehicles in Vientiane and significantly broaden the service areas. By the end of the year, approximately 2,000 vehicles will be providing services in Vientiane city, with an additional 1,700 three-wheeled EV tuk-tuk vehicles introduced. The number of individual vehicle owners will also be expanded to 630 by the end of this year, greatly increasing the number of four-wheeled service vehicles.
From the second half of the year, Kokkok Move's ride-hailing service will be sequentially expanded to major hub cities including Savannakhet, Luang Prabang, Pakse, and Vang Vieng. Starting at the end of the year, about 500 Kokkok Move vehicles will begin operating in nearby Thai regions such as Udon Thani, Khon Kaen, and Phuket, enabling Kokkok Move services to be available throughout Laos and parts of Thailand.
Kokkok Move’s three-wheeled EV tuk-tuk vehicles are developed in-house by LVMC Holdings and feature excellent design that aligns with the brand identity. The newly introduced vehicles use all-metal materials, making them more stable and safer compared to previous models that used fabric and plastic materials. Additionally, the introduction of IoT devices enhances tracking capabilities, systematizes maintenance processes, and improves service quality.
Currently, all Kokkok Move service vehicles are operated directly, resulting in a rapid increase in revenue. While three-wheeled EV tuk-tuk drivers are not charged any service fees beyond vehicle rental costs, if the planned operation of 3,470 vehicles is realized by the end of the year, monthly revenue from three-wheeled EV tuk-tuk rentals is expected to reach approximately 2 billion LAK. Furthermore, considering additional revenue from charging fees of 50,000 LAK per session when exceeding the free battery exchange limit of twice per week, increased advertising revenue due to vehicle growth, service expansion into Thailand, and express services, a more significant increase in revenue is anticipated.
Han Tae-won, CEO of Lao Smart Mobility, stated, “We have set Kokkok Move’s sales target for this year at approximately 9.1 billion KRW. By 2025, we plan to expand the operation to 5,000 three-wheeled and 2,000 four-wheeled vehicles each, aiming for annual sales of 20.5 billion KRW next year.”
He added, “The activation of Kokkok Move services not only makes life more convenient for the people but also contributes to Laos’s urbanization through public transportation expansion and economic development through job creation. As many consumers love Kokkok Move, we will strive to further improve service quality and user experience.”
Meanwhile, Lao Smart Mobility’s Kokkok Move is an eco-friendly comprehensive mobility platform based on the three-wheeled ‘electric tuk-tuk (EV TukTuk)’ developed by LVMC Holdings. It offers various transportation services such as taxi hailing, quick delivery, parcel, shipping, and freight transport at reasonable prices.
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