Proton Holding’s Proton New Energy Technology Sdn Bhd has obtained RM200 million in financing from CIMB Bank Berhad for the funding of its green mobility initiative and the import and distribution of the smart #1 premium electric vehicles in Malaysia.
The arm is the exclusive authorised importer and distributor for smart vehicles in Malaysia and Thailand. The smart #1 is the first model sold and is built on Geely’s Sustainable Electric Architecture (SEA) and styled by Mercedes-Benz. It currently has 13 dealers, aftersales services, and developed user-friendly digital app known as ‘Hello smart’ to provide access to over 70% of the public charging network.
The company is also charged with fulfilling national carmaker PROTON’s commitment to its electric vehicle agenda and is set to play a pivotal role as it leads the transition towards the production of New Energy Vehicles (NEV) and the development of the Automotive High Tech Valley (AHTV) in Tanjong Malim.
Roslan Abdullah, Board Member of PRO-NET said, “We will utilise this financing to enhance our digital ecosystem and supply chain in EV infrastructure and expand our network for a seamless retail experience. This will facilitate the rising demand for electric vehicles, aligning with Malaysia’s carbon neutrality objective.”
CIMB provides an array of solutions for the consumer EV segment with the introduction of its comprehensive suite of EV financial solutions to drive the adoption of EVs and support the shift towards sustainable mobility across ASEAN.
