ACO Tech has signed a Memorandum of Collaboration (MoC) with Geno and the Malaysia Automotive, Robotics & IoT Institute (MARii) to explore the use of blockchain solutions for Malaysia’s Electric Vehicle (EV) infrastructure.
MARii CEO Mr. Azrul Reza Aziz said, “By exploring blockchain solutions, we are not only addressing current challenges in the EV sector but also laying the groundwork for a secure and scalable infrastructure aligned with the National Automotive Policy 2020. By synergising our capabilities, we aspire to set new industry standards, promoting sustainable practices and user-centric innovations.”
The MoC entails a comprehensive exploration of blockchain applications such as smart contracts, digital traceability management of the supply chain, tokenomics solutions, and privacy protection technologies. These solutions are set to complement ACO Tech’s innovative offerings for the E-Mobility Service Platform (EMSP). The initiative seeks to ensure data privacy and ownership, facilitate data monetisation, and offer long-term sustainable investment opportunities for strategic investors.
The collaborative expertise of ACO Tech, Geno, and MARii is expected to effectively address concerns associated with EV ownership, including the scarcity of charging ports and inconsistent charging rates. By leveraging blockchain technology, the alliance aims to empower EV manufacturers, service providers, and owners/users to engage more interactively through a tamper-proof decentralised ledger system. This approach is anticipated to reduce costs, enhance user experience and confidence, and establish seamless tracking and maintenance records. Additionally, it will facilitate peer-to-peer energy and charger-sharing, ensuring transparency throughout the entire lifecycle of products and services.
This strategic alliance aligns with the objectives outlined in the New Industrial Master Plan (NIMP) 2030 and the National Energy Transition Roadmap (NETR). The Malaysian Government aims to achieve significant milestones in EV adoption, with targets set at 20% of Electrified Vehicles (xEV) by 2030, 50% by 2040, and 80% by 2050. By leveraging blockchain technology on an industry-wide scale, this collaboration is poised to play a pivotal role in achieving these ambitious goals and establishing Malaysia as a leader in the EV revolution in Southeast Asia.
