Sevo Mobility announced on the 24th that it has signed a memorandum of understanding (MOU) with MVL to develop and sell small commercial electric vehicles.

MBL operates mobility services in Southeast Asia, including Singapore, Cambodia, and Vietnam, and operates ride-sharing service “TADA” and electric vehicle manufacturing and charging infrastructure company “OniON Mobility.”


Sevo Mobility CEO Park Young-tae (left) and MVL CEO Woo Kyung-sik are taking a commemorative photo at the MOU signing ceremony held with Lee Won on the 23rd. /Photo: Offering Sevo Mobility

In particular, Tada is growing rapidly in Southeast Asia, with more than 150,000 drivers and cumulative service users reaching more than 1.5 million.

With this agreement, Sevo plans to prepare a way to enter and sell Southeast Asia, and MBL plans to expand its logistics platform service to vehicles supplied by Sevo.

Sevo will develop and supply strategic electric vehicles in Southeast Asia by securing specification information suitable for Southeast Asian regions from MBL. The two companies also decided to actively cooperate in applying MBL’s vehicle control technology to vehicles supplied by Sevo.

MBL plans to expand Tada’s scope to the logistics sector by utilizing Sevo’s small commercial electric vehicles. It will also establish a safer and faster logistics system by applying its own blockchain-based vehicle control technology to the vehicle.

“The Southeast Asian market is rapidly electrifying, starting with electric bikes, and as the logistics market grows, the demand for small electric trucks is also growing,” said Woo Kyung-sik, CEO of MVL. “We look forward to quickly responding to these market demands through collaboration with Sevo.”

The two companies will cooperate with global logistics companies operating in Southeast Asia in sales of commercial electric vehicles and actively propose to the local government to ease regulations to popularize commercial electric vehicles and upgrade logistics services.