A joint venture between Energy Absolute Thailand and Computer Forms Malaysia (CFM) has been formed for the construction of Malaysia’s first EV manufacturing plant for public transportation, worth RM5 billion according to minister of international trade and industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz in a post on LinkedIn.
Worth RM5 billion, the EV manufacturing facility will be for the production of electric buses and electric school buses, electric boats, electric motorcycles, EV batteries, electric trains and more, and CFM and Energy Absolute has also agreed to transfer innovation, renewable energy experience and carbon credits to the Malaysian government towards its goal of net-zero carbon emissions by 2050.
“The combination of renewable energy and greening public transportation will encourage inclusive economic growth that will benefit both Thailand and Malaysia,” Zafrul wrote in his post on LinkedIn.
Last week, Energy Absolute Malaysia, the Malaysian arm of Thailand-based renewable energy and green technology firm Energy Absolute, has expressed its interest in exploring the Malaysian market anchored on the principles of supporting, investing and driving a pilot project, Bernama has reported.
Malaysian prime minister Datuk Seri Anwar Ibrahim said that Energy Absolute will collaborate with Computer Forms Malaysia (CFM) for the development of green technology in Malaysia as well as for EV technology transfer, among other initiatives, according to Bernama.
The Malaysian prime minister said last week on his Facebook page that Energy Absolute, with a market capital of 380 billion Thai baht (RM45 billion) will build an EV manufacturing facility specifically for the transportation sector.