Yinson Green Technologies (M) Sdn Bhd has signed a term sheet with GreenTech Malaysia Alliances Sdn Bhd (GTMA), a subsidiary of the Malaysian Green Technology and Climate Change Corporation (MGTC), to form a joint venture (JV) to accelerate the development of charging infrastructure for electric vehicles (EV) in Malaysia.
The agreement stated that Yinson will own the majority shares of the JV to supply the EV station and will expand on MGTC’s ChargEV network, which already has over 400 charging stations around the country. Yinson’s Senior Vice President of Electromobility, Ruslin Tamsir, stated that an end-to-end integrated platform-based solution will be established under the JV to serve the EV charging ecosystem whilst improving the effectiveness, affordability and distribution of smart charging stations and support services across the country.
GTMA’s Chairman Datuk Hiswani Harun commented that GTMA will continue to explore several implementation mechanisms such as outright purchase, leasing and transit-oriented developments to improve the local green economy and create green jobs, aside from helping to address climate change concerns. Datuk Hiswani also called for more similar strategic cooperation and encouraged public and private sectors to come forward with innovative ideas to achieve Malaysia’s ambition of lowering greenhouse gas emissions by 45% by 2030.
Aside from Yinson, BMW Malaysia has also been a long-time collaborator with GreenTech Malaysia for charging facilities, beginning in 2015 with the offering of the ChargEV public EV charging network to BMW i8 customers in Malaysia. It is currently is working with Tenaga Nasional Berhad (TNB) and Shell to extend its electric vehicle charging network. The project is expected to roll out a nationwide network of DC fast chargers, including at highway rest stations, shopping malls, and dealerships until the first quarter of 2022 for initial installation. In addition, TNB has partnered with ride-sharing and mobility provider Socar, which aims to grow the presence of electric vehicles in Malaysia by setting up 50 electric vehicle (EV) zones in the country by the end of 2022.
(Sources: The Edge Markets; Paultan; The Star)