Yinson Holdings Bhd (Yinson), through its subsidiary Yinson Green Technologies (M) Sdn Bhd, has signed a term sheet with GreenTech Malaysia Alliances Sdn Bhd (GTMA) to boost the development of electric vehicle (EV) charging infrastructure in Malaysia.
Under the term sheet, Yinson will own a majority stake in the joint venture (JV), that will deploy EV charging stations in Malaysia. The agreement builds on Malaysian Green Technology and Climate Change Corporation’s (MGTC) ChargEV network, which includes over 400 charging stations around the country and will be incorporated into the JV. The JV is expected to assist in making charging infrastructure more accessible, inexpensive, and Innovative for businesses and consumers in Malaysia.
The JV will leverage Yinson’s logistics, sustainability governance, technological development along with ChargEV’s existing charging infrastructure. The signing of this term sheet follows Yinson’s recent investments in e-mobility, autonomous driverless systems, and electric harbour crafts, and represents the next stage in the company’s plan to provide a comprehensive green mobility solution.
