When it comes to electric motorcycle production, Singapore is not the first location that comes to mind. The electric motorbike market in Southeast Asia is still in its early stages, facing challenges in terms of complexity, time, and cost required for scaling up in this field.
Despite the nascent market, one homegrown company is bravely charging ahead to roll out its one-ofa-kind electric motorbikes, undaunted about having to jockey against the big boys in the space.
This is Scorpio Electric, Singapore’s first electric motorcycle manufacturer. Established in 2017 under the public-listed luxury sports car distributor EuroSports Global, Scorpio Electric has emerged as a promising contender in the electric motorbike industry despite being relatively young.
See also: Sasseur REIT’s Cecilia Tan: Consumption downgrade benefits us
Industry disruptor
Founded by Melvin Goh and led by his son Joshua Goh; the duo had witnessed first-hand the sheer amount of internal combustion motorcycles zipping through the busy streets in Indonesia.
See also: NIO aims to build a more premium EV brand than Tesla
It offered a glimpse of how “two wheel mobility is so intertwined with the lives of the locals” and the pressing need for more sustainable mobility initiatives to help reduce global greenhouse gas,” says the younger Goh, the CEO.
Their commitment to sustainable mobility in Southeast Asia drove them to concentrate on electric motorbikes. The capital requirements for these vehicles differ significantly from those for two-wheelers, as they involve distinct certifications and regulations compared to four-wheelers.
As most incumbents are not looking at this technology, he explains that it allows Scorpio Electric to build its brand. Scorpio Electric hopes to be at the forefront of consumers’ minds when demand for electric motorbike adoption ramps up.
The company’s name reflects the team’s ambitions, drawing inspiration from Melvin Goh’s horoscope. It symbolises core values such as boldness and passion in propelling the company forward.
To stay ahead of Singapore and the region’s corporate and economic trends, click here for Latest Section
“We want Scorpio Electric to be the choice of mobility, an aspirational brand and product…It’s a once-in-a-generation opportunity to create something different and challenge the incumbents,” adds Goh.
An exciting offering
The company has unveiled its flagship model, the futuristic-looking Scorpio Electric X1 electric maxi-scooter. The uniquely designed electric motorbike has many impressive specifications, targeted at the “eco-conscious urban individual,” says Goh.
The X1 can blaze down roads at a top speed of 105 km/h and possesses an industry-leading range of 200 km on a single charge. It will be powered by cutting-edge battery technology, a 72V 5kWh proprietary battery pack from South Korea’s Samsung.
It also has other snazzy features like seamless mobile application connectivity and sensors that gather real-time data for AI-aided predictive analysis. Being a European homologated international product, Goh says this bike is “poised to enter the international stage.” It has already benchmarked itself against the likes of BMW and Harley Davidson, which have produced revolutionary zero-emissions bikes.
Battles and breakthroughs
Surrounded by exotic sports cars growing up, Goh cultivated a profound passion for the automotive industry from an early age. He later pursued his interest in finance, assuming roles associated with capital markets, corporate finance and corporate restructuring.
In 2017, he joined the family business and EuroSports Global, overseeing general operations, strategic planning, and business development. Later, in 2020, he took over the reins of Scorpio Electric.
It was tough starting in the company’s early days, admits Goh. One key challenge was developing a stable supply chain ecosystem. As a fairly new and small company, it was difficult for them to find partners and vendors willing to take the risks, let alone supply the components they needed to purchase. Moreover, most consumers were familiar with electric cars and less with electric motorcycles.
But guided by the team’s shared vision, their effort and persistence paid off, says Goh. Scorpio Electric’s electric scooter has been in the works for more than four years, but it only managed to catch the attention of Chinese EV giant Shenzhen BYD Electronics and began discussions in 2022.
This year, it announced that BYD will produce the first batch of X1 pre-production prototype units, supported by US$6.5 million ($8.8 million) in funding in January. The team had been surprised by BYD’s interest, given Scorpio’s relatively small size, and considered approaching a Thai or European company to do the assembly.
The X1’s main market will be Europe, though it has its share of “loyal supporters” in Singapore. Since Scorpio Electric launched the virtual pre-orders of the X1 in 2021, orders have been robust. Customers have also been eagerly anticipating the X1 deliveries, which will go on sale by the end of 2023. The company is targeting 2,000 to 3,000 units for first-year sales.
Goh is also excited about showcasing the X1 at the Esposizione Internazionale Ciclo Motociclo e Accessori exhibition, a leading motorcycle show, in Milan, Italy, from Nov 7 to 12. Scorpio announced plans to reveal other upcoming electric motorcycle models at the event.
He recounts how he was amid a business meeting when a BMW sedan owner rolled up at their office in Teban Gardens. After learning about the product, the man placed a deposit for the X1 immediately. The bike enthusiast wanted to add it to his collection of eight motorbikes.
“He told me, ‘You guys are doing something different from anyone else’,” recalls Goh with a touch of pride. “What makes us stand out is our attention to detail and design, whether the headlight, suspension, seat design, single-sided swingarm… All of it comes together to create a premium product that excites users.”
A green future
As of 2022, the electric motorcycle market in Southeast Asia remains at an early stage of development, constituting less than 1% of the total market share. In contrast, China leads the pack, bagging a substantial 20% market share for electric motorcycles.
In his five-year vision, Goh says the firm is poised for big growth in his five-year vision as the global electric scooter and motorcycle market is projected to take off massively. By then, he adds that Scorpio Electric will have an entire portfolio of electric motorcycle models ready, ranging from luxury to affordable midrange models catering to the average consumer.
Goh plans to leverage EuroSports Global’s strong distribution experience and work closely with partners to set up direct sales or distribution channels with Asia Pacific and European territories.
The electric motorcycle market is fragmented, with multiple players attempting to gain market share and stand out. But Goh declines to compare against other start-ups in the space, as “everyone is running their race.” Riders also discern the price point in a competitive market like Southeast Asia. Other barriers to electric vehicle adoption include range anxiety and charging accessibility.
What is needed is strong government intervention, subsidies to help incentivise private players and consumers, and efforts to ramp up infrastructure to help with adoption and raise awareness of electrified vehicles through campaigns.
He also highlights that overcoming these barriers can hasten the transition to electric mobility, combat air pollution, reduce greenhouse gas emissions, and improve energy efficiency.
Long-term goals
To take Scorpio Electric to new heights, a strong, talented and capable team is needed to bolster the homegrown firm’s success as a competitive player. Goh cites how honesty and ownership of one’s mistakes are key values. In the early days, he had brushes with engineers who would “promise lofty goals and be too bullish” but fell short in their ability to admit mistakes and holistically review these goals.
Discipline is paramount, extending to both Joshua’s professional and personal life. Some may find it surprising that Joshua commits to CrossFit workouts at the gym six days a week. He believes maintaining this active lifestyle enhances his focus, determination, and resilience in leading the business.
While he does not rule out the possibility of producing electric cars one day, Goh prefers to focus on bikes for the moment. He says: “In Southeast Asia, where urbanisation and environmental concerns are particularly acute, these advancements can play a transformative role. We’re not just building electric motorcycles but steering the course towards a cleaner, smarter, more eco-friendly world.”
Scorpio Electric
Since 2017, Scorpio Electric has been a Singapore-based electric motorcycle manufacturer focusing on design, performance, and technology. Scorpio Electric aims to be a global brand and technology innovator in the two-wheel electric space, seeking to be at the forefront of new sustainable mobility adoption. Scorpio Electric is focused on developing sleek and premium electric motorcycles that share a symbiotic relationship with the user through smart capabilities. Scorpio Electric is a subsidiary of EuroSports Global.
EuroSports Global
Established in 1998, EuroSports Global specialises in distributing ultra-luxury and luxury automobiles and providing after-sales services. The automobile sales business retails new ultra-luxury, luxury, and preowned Lamborghini and Touring Superleggera brands. EuroSports Global Limited has been the sole authorised dealer for Lamborghini in Singapore since 2002 and Indonesia since 2018, the exclusive distributor for Touring Superleggera in Singapore, Malaysia, Brunei and Indonesia and a non-exclusive distributor in the PRC since October 2012. The company’s website is: http://www.eurosportsglobal.com/
About kopi-C: The Company Brew
kopi-C is a regular column by SGX Research in collaboration with Beansprout (https://growbeansprout.com), a MAS-licensed investment advisory platform that features C-level executives of leading companies listed on SGX. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run The X1 electric scooter in action on the streets of Spain these corporations
