Atlas to launch electric bike

Atlas Bangladesh Ltd (ABL) has partnered with Chinese electric vehicle maker Zhejiang Luyuan Electric Vehicle Company Ltd to assemble and manufacture electric scooters and bikes under the former's brand name, Atlas EV.

Under the agreement, ABL will receive technical cooperation from Zhejiang Luyuan to locally assemble and manufacture electric two-wheelers.

The company aims to begin sales through its dealer network by August this year, following the completion of necessary processes.

Atlas signed a memorandum of understanding with the Chinese company in this regard at a programme at the BSEC Bhaban in Dhaka on May 22, according to a disclosure posted on the Dhaka Stock Exchange (DSE) website.

ABL is a state-owned enterprise under the Bangladesh Steel and Engineering Corporation (BSEC) of the industries ministry.

The company began operations in 1966 in collaboration with Japan's Honda Motor Company under private ownership and was later nationalised in 1972 following Bangladesh's independence.

ABL partnered with Hero Honda in 1993, but the collaboration came to an end in 2010 when Honda and Hero dissolved their joint venture.

As of April 30, 2025, the government held a 51 percent stake in ABL, while institutional investors held 16.95 percent and the general public 32.05 percent, according to DSE data.