Tree Technologies Sdn Bhd (Treeletrik) has appointed Richard Teoh as its Chief Financial Officer. Treeletrik is a homegrown electric vehicle (EV) maker with a presence in the ASEAN market. It is a subsidiary of Ideanomics (NASDAQ: IDEX) which focuses on the convergence of financial services and industries
experiencing technological disruption.
Richard Teoh is a Chartered Certified Accountant (FCCA) and Chartered Accountant (MIA) and brings to Treeletrik over 20 years of financial control, planning, leadership, and management experience. He was previously Director of Group Finance Controlling at Volkswagen Group Malaysia, responsible for the financial oversight of the commercial distribution and manufacturing of vehicles.
Additionally, Richard had served in a variety of senior finance leadership roles, including at Dominick Hunter, a UK-based industrial product manufacturer which was acquired by Parker Hannifin. At Dominick Hunter, he was involved with the integration and transition of financial Enterprise Resource Planning (ERP) systems and controls.
“We have ambitious plans for Treeletrik’s growth, and Richard’s financial leadership, combined with his experience in relevant industries such as automotive, manufacturing, and construction, will help the company meet its growth objectives,” said Datuk Viswanathan Menon, Treeletrik CEO.
Treeletrik is a pioneer company to bring a true electric bike to Malaysia. The company provides transportation options that are clean, safe and affordable, with advanced technologies and innovations, and minimal maintenance. Treeletrik’s parent company, Tree Manufacturing, is a licensed EV manufacturer in Malaysia.
In March 2019, Ideanomics acquired a controlling stake in Tree Technologies Sdn Bhd. The combined organisation aims to accelerate the adoption and affordability of EV production, extending Treeletrik’s portfolio from EV mopeds and bikes to EV buses, trucks, cars, and light rail. The expanded vehicle product line serves the 650 million people in the ASEAN region including Malaysia, Thailand, Indonesia, Cambodia, Vietnam, Philippines, Laos, Singapore, and Brunei.
Alf Poor, Ideanomics CEO, added, “We are very pleased to have Richard Teoh join the Treeletrik team as CFO. His experience and industry insight will help us with all aspects of the company’s growth strategy. As the leading EV manufacturer in the ASEAN region, Richard will be assisting us with everything from supply chain development through to the roll out of our battery and charging systems, as well as the development of the land in the port area.”
The Mobile Energy Global (MEG) division of Ideanomics facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions. The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.