NANOMALAYSIA Berhad (NMB) today inked a Memorandum of Agreement (MOA) with a consortium of Korean based automotive companies. This MOA will 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 USD30 million (RM126,600,000).
The multi-party MOA was signed between NanoMalaysia Berhad (a commercialisation agency under the Ministry of Science, Technology and Innovation), Hyundai Kefico Corporation, Tham Corporation, Curo Co. Ltd, Hyundai Electric and Energy Systems Co. Ltd, Daegu Mechatronics & Materials Institute (DMI) and Signet EV.
It underscores a collaborative initiative for Malaysian companies to provide a wide range of technology components in the production of 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.
The collaboration members have agreed to cooperate in providing 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 followed by full commercialisation with a clear business model and plan. Any incentives provided by the Government of Malaysia shall be fully explored and utilised.
NanoMalaysia will play an integral role in the development of energy storage technologies (batteries, ultra-capacitors, solid-state hydrogen, energy management and monitoring systems), as well as high-performance motor controllers for mobility applications through NanoMalaysia Energy Storage Technology Initiative (NESTI).
The deployment of Malaysian energy storage, energy management and monitoring system and controller components will be utilised for integration into electric vehicles including Micro-Mobility co-developed with Curo Co., ltd, Hyundai Kefico, Hyundai Electric and ThamLEV.
Witnessing the event, Minister of Science, Technology and Innovation (MOSTI) Dato’ Sri Dr Adham Bin Baba said: “This collaboration is a notable opportunity to foster stronger ties in the development of Malaysian Market and Ecosystem for EVs at large and Micro Mobility in particular. We are privileged and honoured to have globally renowned partners in supporting and developing the EV Micro-Mobility Ecosystem.
“This agreement will not only position Malaysia as a regional EV technology hub but also create micro-mobility ecosystem support in cross-certification, planning and promotion for government cooperation between Malaysia and South Korea.
“We look forward to this venture, and future collaborations which will bring about green and sustainable future technologies through nanotechnology, EV and micro-mobility between our countries.”
This partnership will also allow for the development and expansion of energy solution business models by organising ESS-EVs-Renewables and Micro grid technologies between the partners.
NanoMalaysia’s CEO, Dr Rezal Khairi Ahmad added: “The signing of this MOA will be a milestone in the progress of NMB’s work in the region thus forming an important execution step forward under the NanoMalaysia Energy Storage Technology Initiative (NESTI). We are very excited about the future of this partnership and have full 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.”
The eco-friendly total solution provider that controls the heart of future mobility, Hyundai Kefico, will develop, manufacture and supply an e-mobility Powertrain system including EV two-wheeler to make a new ecosystem for Micro Mobility in Malaysia.
In addition, they will also develop and supply Vehicle Management and Monitoring service with Battery Swapping System (BSS) Solution including related products. It is envisioned that Malaysian companies under the NESTI consortium with interest in BSS will participate on this platform through NanoMalaysia.
Under this initiative, Hyundai Electric will develop and support technology and strategy for BESS (battery energy storage systems) by reused 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.