KUALA LUMPUR: NanoMalaysia Bhd (NMB) today signed a memorandum of agreement (MoA) with a consortium of Korean based automotive companies to position Malaysia as an exporter of electric vehicle (EV) components for use in the micro-mobility ecosystem in the ASEAN region, with a targeted investment value of US$30 million (RM126.6 million).
The deal also underscores a collaborative initiative for Malaysian companies to provide a wide range of technology components in producing two-wheel and four-wheel EVs in the global marketplace, thus positioning the country as a leading EV nation in this region.
This will comprise nanotechnology-based components such as high-performance batteries, ultra-capacitors, solid-state hydrogen and energy management and monitoring systems.
NMB chief executive officer Dr Rezal Khairi Ahmad said this MoA would be a milestone in NMB's work in the region under the NanoMalaysia Energy Storage Technology Initiative (NESTI).
"We are very excited about the future of this partnership and have complete confidence that this dynamic collaboration will intensify our efforts in bringing Malaysia's EV solutions powered by nanotechnology to the ASEAN region and beyond.
"EV micro-mobility is a logical way forward for more inclusive participation by Malaysians, besides business opportunities, it will contribute to more than 6,000 high-value jobs under NESTI.
"Concurrently, we aim for the bigger sized EV technologies and market deployment. We have great expectations for this partnership to elevate the transportation and mobility environment within the region," he said in a statement today.
The multi-party MoA was signed between NMB, Hyundai Kefico Corporation, Tham Corporation, Curo Co Ltd, Hyundai Electric and Energy Systems Co Ltd, Daegu Mechatronics & Materials Institute (DMI) and Signet EV.
The collaboration members have agreed to provide a total solution to an EV micro-mobility ecosystem in Malaysia, including EV two-wheeler and potentially EV 4-wheeler in Malaysia with Malaysian core technical components.
The partnership will commence with a proof of concept (PoC) deployment phase and full commercialisation with a clear business model and plan.
Any incentives provided by the government will be fully explored and utilised.
The deployment of Malaysian energy storage, energy management and monitoring system and controller components will be utilised for integration into EVs, including micro-mobility co-developed with Curo Co Ltd, Hyundai Kefico, Hyundai Electric and ThamLEV.
Hyundai Kefico will develop, manufacture and supply e-mobility powertrain system, including EV two-wheeler, to make a new ecosystem for micro-mobility in Malaysia.
In addition, the company will also develop and supply vehicle management and monitoring service with battery swapping system (BSS) solutions, including related products.
It is envisioned that Malaysian companies under the NESTI consortium interested in BSS will participate on this platform through NMB.
Under this initiative, Hyundai Electric will develop and support technology and strategy for BESS (battery energy storage systems) by reusing batteries from micro-mobility, developing and supporting an optimal battery management system for micro-mobility and ESS.
This partnership is positioned for a joint investment from relevant parties from Malaysia and South Korea after the full terms and conditions are finalised.