Public Bank Announced As Financing Facility Provider For Smart EV In Malaysia

Public Bank Berhad is collaborating with Proton New Energy Technology Sdn Bhd distributor of smart EV’s in Malaysia to provide financing facilities and digitalisation via systems integration with smart Malaysia and its authorised dealers.

This collaboration will enable Public Bank to interface and facilitate digitalization via online submission of hire purchase end-financing applications and Floor Stocking facilities through smart customer App and their authorized dealers thus improving the market shares in the EV automotive industry.

These strategic appointments are expected to accelerate the sales of the company’s all-new innovative EV. The initial offering for the Malaysian market is the award-winning smart #1, which recently made its debut at Electric Vehicle Expo (EVx) 2023

Public Bank has mobilised over RM30 billion in domestic NEV financing by the end of 2022, representing approximately 52% of the Bank’s total domestic Hire Purchase financing portfolio. To signify the Bank’s commitment, the NEV lending target had now been increased to RM33 billion by 2025.

PRO-NET in developing a smart Malaysia customers’ App, is set to offer an exceptional range of eco-services, including convenient online loan applications and seamless charging information capabilities. The goal it said is to ensure transparency on the transaction, enhance efficiency, and speed throughout their journey with the smart brand.

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