Energy Absolute To Construct RM5 billion EV Public Transport Manufacturing Facility In Malaysia - MITI

According to a LinkedIn post by Minister of International Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz, a joint venture between Energy Absolute Thailand and Computer Forms Malaysia (CFM) has been formed to build Malaysia's first EV manufacturing plant for public transportation worth RM5 billion. The EV manufacturing facility, worth RM5 billion, will be used to produce electric buses and electric school buses, electric boats, electric motorcycles, EV batteries, electric trains, and other products, and CFM and Energy Absolute have also agreed to transfer innovation, renewable energy experience, and carbon credits to the Malaysian government as part of its goal of reaching net-zero carbon emissions by 2050.

"The combination of renewable energy and greening public transportation will encourage inclusive economic growth, benefiting both Thailand and Malaysia," Zafrul wrote in a LinkedIn post. According to Bernama, Energy Absolute Malaysia, the Malaysian arm of Thailand-based renewable energy and green technology firm Energy Absolute, expressed interest in exploring the Malaysian market last week based on the principles of supporting, investing, and driving a pilot project. Malaysian Prime Minister Datuk Seri Anwar Ibrahim stated that Energy Absolute will collaborate with Computer Forms Malaysia (CFM) for the development of green technology in Malaysia as well as the transfer of EV technology, among other initiatives.