GoAuto & Careplus Inks 30% Stake Term Sheet - EV Production, Assembly & Retail
-full_normal.jpg)
Careplus Group Bhd, Masterclean Technologies Sdn Bhd's glove making unit, has inked a term sheet with GoAuto Group Sdn Bhd showing its intention in entering the EV industry. This JV would include both the manufacturing and retail sides of the automotive industry.
If this JV comes to fruition, the businesses will establish an EV production and assembly hub on a 74-acre tract of land held by Careplus in Chembong, Negeri Sembilan, to advance GoAuto's EV CKD (Completely Knocked Down) project.
-full.jpg)
To accomplish this, Careplus would consider acquiring a 30% stake in GoAuto through a fresh Careplus 25-million share issuance. In addition, Careplus may lease out its Careplus Mall in Seremban as a value-added product to the JV.
-full.jpg)
The NETA S, a premium offering set to enter the Malaysian market before 2025
GoAuto, which imports and distributes 9 automotive brands in Malaysia, recently made headlines when it became the first automobile distributor to offer a EV, the NETA V for a low price of RM99,800.
Source: TheEDGEMalaysia
Written By
Kumeran Sagathevan
More then half his life spend being obsessed with all thing go-fast, performance and automotive only to find out he's actually Captain Slow behind the wheels...oh well!
JPJ Running Numbers
KUALA LUMPUR
VQK8374
SELANGOR
BSM2735
JOHOR
JYQ8972
PULAU PINANG
PRY3830
PERAK
APE8871
PAHANG
CFF1463
KEDAH
KGE2059
NEGERI SEMBILAN
NEJ4487
KOTA KINABALU
SJQ1561
KUCHING
QAB1870N
Last updated 02 Feb, 2026
Fuel Price
Petrol
RON 95
RM 2.54
+0.02
RON 97
RM 3.10
+0.02
RON 100
RM 5.00
VPR
RM 6.23
Diesel
EURO 5 B10
RM 2.88
+0.04
EURO 5 B7
RM 3.08
+0.04
Last updated 22 Jan, 2026
Latest News
Malaysia’s EV Boom Set to Normalise in 2026
After a strong 2025, analysts expect the EV boom to normalise, with buyers turning more cautious.
30-01-2026
Updated 2026 MINI Countryman EV Gets Up to 501 km WLTP Range
The updated 2026 MINI Countryman EV gains some improved battery tech that boosts its travel range to 501 km (WLTP).
28-01-2026
Chery Launches First Himla EV Pick-Up in China
Chery has launched its first all-electric pick-up under the Himla brand, offered in six variants with both RWD and AWD options.
28-01-2026
This Solar-Powered Nissan Ariya EV Concept Runs on Sunlight
Nissan has unveiled a new solar-powered concept EV based on the Ariya, featuring up to 3.8 square-metre of solar panels.
27-01-2026
Luxeed V9 Unveiled in China as Huawei-Chery’s New EREV MPV
Huawei’s HIMA latest model is a luxurious EREV MPV jointly developed with Chery known as the Luxeed V9.
26-01-2026
IKM Besut Strengthens EV Training with JomCharge AC Charger
IKM Besut strengthens EV training with a JomCharge AC charger, supporting hands-on learning.
26-01-2026
JMEV SC-01 Unveiled as China’s All-Electric Answer to Lightweight European Coupes
The new JMEV SC-01 has been unveiled as China’s all-electric answer to European lightweight coupes.
23-01-2026
Hyundai Staria Camper Concept Previews Future All-Electric Campervan
The new Staria Camper concept shows what would happen if Hyundai decided to make a campervan out of its new Staria Electric.
23-01-2026
Show More
trending_flat