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Wing Bank and Mekong EV Partner for Electric Motorcycle Loans

May 21, 2024

Wing Bank offers Motor Loans up to USD 5,000 for Mekong EV customers to support the adoption of electric vehicles in Cambodia.

Wing Bank (Cambodia) Plc. has announced a strategic partnership with Mekong EV Co., Ltd. to roll out Motor Loans for individual customers purchasing TAILG Electric Motorcycles and collateral-free loans as working capital for their distributors.

Han Peng Kwang, CEO of Wing Bank, said, “In this era of heightened environmental awareness, electric vehicles have emerged as prominent and viable eco-friendly alternatives. They not only reduce air pollution but also promote healthier lives and offer economic benefits through lower fuel costs and operating expenses compared to conventional vehicles.”

“This partnership underscores our commitment to innovative solutions that benefit individuals and communities at large,” Han added.

A recent study by the Ministry of Environment found that CO2 emissions from electric motorcycles are approximately five times lower than those from internal combustion engine motorcycles, while also saving users around USD1.60 per 100 km trip.

Through this collaboration, individual customers can now access Wing Bank’s Motor Loans to purchase TAILG Electric Motorcycles from Mekong EV. Wing Bank offers loans of up to USD 5,000 with competitive interest rates, fast approval, and no collateral or guarantor is required. Customers can conveniently apply for this loan at any Wing​​​ Bank branches or all its Wing Master Agents.

Meanwhile, dealers distributing TAILG Electric Motorcycles from Mekong EV can benefit from collateral-free Quick Loans via Wingmarket, enabling them to access to additional working to expand their business operations.

Mekong EV Co., Ltd. exclusively imports TAILG, a high-quality electric motorcycle manufacturer, to Cambodia. TAILG operates over 10 large factories in China and has a global presence through 35,000 retail outlets in 96 countries. The company has a CNAS laboratory and an annual production capacity of up to 15 million units.

Tith Virak, president of Mekong EV Co., Ltd, said, “With the full support of Wing Bank, a trusted financial partner of Mekong EV, TAILG Cambodia distributors procuring electric motorcycles through the Wingmarket platform for up to 6 months will enjoy the exclusive benefit of obtaining a business loan from Wing Bank without the need for collateral.”

“This exceptional opportunity empowers TAILG distributors to expand their operations and thrive in the market,” Virak highlighted.

Mekong EV Co., Ltd. is actively seeking business partners to join their network and become distributors in 25 provinces across Cambodia as part of its expansion strategy.

“Once they become a dealer, they will receive valuable support in areas such as business management, marketing and sales, store design, technical maintenance, and access to spare parts,” Virak pointed out.

This strategic partnership coincided with the official launch of TAILG Electric Motorcycles in the Cambodian market. Through this collaboration, Mekong EV Company and Wing Bank reaffirm their commitment to providing Cambodians with environmentally friendly transportation options and seamless financial solutions.

The deployment of electric motorcycles could significantly reduce greenhouse gas emissions and air pollution in Cambodian cities, aligning with the government’s vision to transform the country into a sustainable and green city. This effort contributes to realizing the vision of a carbon-neutral and resilient society by 2050.