SUVA-headquartered food manufacturing conglomerate FMF Foods Limited is optimistic of dominating the electric vehicle (EV) market in Fiji following an announcement of its bold entry into this EV sector.
The publicly listed company had undertaken a rigorous feasibility study to assess the commercial, financial, and operational dimensions of this opportunity following the signing of a memorandum of understanding (MoU) with a tier-1 EV manufacturer on August 5 early this year.
“The findings confirmed that EV distribution and resale present a high growth, margin accretive business line, fully aligned with global and regional trends toward clean and sustainable mobility,” company managing director Sanjay Punja said in the company’s market announcement issued by the South Pacific Stock Exchange (SPX) yesterday.
He said the company’s board of directors had endorsed the management’s recommendation, recognising that FMF was uniquely positioned to leverage its brand strength, extensive distribution network, and financial capacity to pioneer Fiji’s EV sector.
“With no dominant player currently in the market, FMF has secured first mover advantage, enabling it to set industry standards, capture early demand, and establish long term leadership,” Mr Punja said.
“This new venture is expected to contribute meaningfully to FMF’s growth trajectory, with strong projected revenues and profitability achieved without extensive capital spending.
“It also reinforces FMF’s environmental, social and governance (ESG) credentials, as the company actively supports Fiji’s transition to sustainable transport and reduced carbon emissions.”
Mr Punja said the company believed this landmark initiative would deliver significant long-term valye for shareholders, open doors to regional expansion across the Pacific, and further cement FMF’s reputation as one of the most innovative and forward-looking companies in the country.
He said this milestone marked not only a diversification of FMF’s portfolio but also a transformational step for Fiji’s business landscape.
The FMF Group had announced in August that it had secured an exclusive deal to become the sole distributor of Chinese Yunnan Maimiao Auto Service Co Ltd’s EVs in Fiji and the South Pacific.
The company is preparing to open its first showroom and service centre in Suva later this year, marking its official entry into the automotive sector which is now anticipated to be a milestone in Fiji’s journey toward clean energy and sustainable transport.
The planned showroom will showcase a range of new electric cars including Geely, Wuling, Geely Radar and a wide lineup of commercial vehicles built for sustainability and efficiency.
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Note: This article was first published under the headline: “’First-mover’ EV venture to contribute meaningfully to growth trajectory” in Page15 of the print version of The Fiji Times dated Saturday September 20, 2025
