EV Infrastructure in Malaysia Advancing Through Blockchain

Mar 2024

Malaysian car connectivity solutions provider ACO Tech, in collaboration with blockchain solutions provider Geno and the Malaysia Automotive, Robotics & IoT Institute (MARii), has signed a Memorandum of Collaboration (MoC) to explore blockchain solutions for Malaysia’s Electric Vehicle (EV) infrastructure. The partnership aims to address current challenges in the EV sector and establish a secure and scalable infrastructure.

The MoC involves exploring various blockchain applications, including smart contracts, digital traceability management of the supply chain, tokenomics solutions, and privacy protection technologies. These solutions will complement ACO Tech’s E-Mobility Service Platform (EMSP) offerings, ensuring data privacy and ownership and offering sustainable investment opportunities for strategic investors. The combined skills of ACO Tech, Geno, and MARii are anticipated to efficiently tackle issues related to EV ownership, such as limited charging ports and variable charging rates. Through the utilization of blockchain technology, the partnership seeks to enable EV manufacturers, service providers, and users to participate more interactively via a secure decentralized ledger system.

This strategy is expected to lower expenses, improve user satisfaction and trust, and create seamless tracking and maintenance records. Moreover, it will facilitate peer-to-peer energy and charger-sharing, ensuring transparency across the entire lifecycle of products and services. This partnership aligns with the objectives outlined in the Malaysian New Industrial Master Plan (NIMP) 2030 and the National Energy Transition Roadmap (NETR). The Malaysian Government aims to achieve significant milestones in EV adoption, with targets set at 20% of Electrified Vehicles (xEV) by 2030, 50% by 2040, and 80% by 2050.

(Sources: Aco Tech; Business Today)

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