PETALING JAYA: CSH Alliance Bhd, through its wholly owned subsidiary and electric vehicle (EV) business arm Alliance EV Sdn Bhd (AEV), is acquiring three pieces of adjacent land measuring 55 acres in Tanjung Malim, Perak for RM12 million, which is intended for a local complete knocked down (CKD) assembly plant for its EV business.
AEV has partnered with BYD Malaysia Sdn Bhd, which is part of Shenzhen-based global car and battery maker BYD Group for the distribution and marketing of BYD T3 model EV. The BYD T3 is a fully electric commercial vehicle ideally suited for use by the logistics and transportation industries.
BYD has appointed AEV as the distributor for BYD T3. AEV will also provide 4S services (sales, service, spare parts and body and paint services) to customers. The companies have also expressed their intentions to explore to commission a local CKD assembly plant for the EV in Malaysia to support local businesses and create employment opportunities for Malaysians.
“The land acquisition is part of AEV’s efforts in meeting Miti requirements to have CBU (complete built up), CKD and local assembly plant in the car manufacturing sector. We are preparing this requirement in advance.
“The acquisition of the land in Tanjung Malim which is adjacent to the Proton City are part of our plans in developing the CKD assembly plant in Malaysia. Coincidentally, the government had announced the development of the Automotive High-Tech Valley in Tanjung Malim and potentially to be EV manufacturer hub for Asean,” said CSH executive director Peter Yap (pix).
The land acquisition will enable the commencement and ensure the growth of the EV business, and complement the group’s financial services business whereby the group may offer flexible financing schemes to transportation and logistics entrepreneurs/companies to fund the purchases of EV and/or working capital.
