AGAPE & Volt Industries Inks MoA - 50 EV Charging Station Coming To Pahang

A Memorandum of Agreement (MoA) was entered between AGAPE ATP Corporation (ATPC) and Volt Industries Sdn. Bhd. with the intention of funding the establishment of 50 electric vehicle charging stations in Pahang. Through this MoA, ATPC hopes to fund the development of the charging stations and purchase a 51% share in Volt Industries.

The MoA was signed by ATPC's CEO Dato’ Sri Dr. How Kok Choong and Volt Industries CEO Datuk Tan Say Jim. Also present were Oriental Industries Enterprise Sdn. Bhd. CEO Edward Ang Mou Lee, and Pahang State Executive Council Member YB Dato’ Mohamad Nizar bin Dato’ Sri Mohamad Najib.

Dr. How underlined that ATPC's entry into sustainable energy, with a goal of having an impact on both local and worldwide markets, is symbolised by the MoA. ATPC's commitment to a worldwide green revolution is demonstrated by its relationship with Volt Industries, which is considered as a crucial step towards powering Malaysia's sustainable future.

He also made it clear that there would be no government funding for the project as the entire project would be privately funded. To add on to this, as per our understanding here at CariCarz, none of the charge point operator (CPO) are actually funded by the government. However the EV chargers rolled out numbers are taken into calculation towards achieving the 10,000 public chargers by 2025 goal set by the government. 

In accordance with the MoA, ATPC will evaluate the project's viability from a financial standpoint, securing primary funding and exploring additional capital sources. Groundwork for the project, including obtaining permissions, guaranteeing regulatory compliance, and supervising construction, will be handled by Volt Industries.

Tan, on the other hand, expressed enthusiasm about collaborating with ATPC to install the 50 EV charging stations in Pahang and looked forward to positively impact the state's transportation landscape.

In addition, ATPC and Oriental Industries Enterprise (OIE) inked a Memorandum of Agreement (MoA) on the same day to establish a Special Purpose Vehicle Company (SPV) with the goal of promoting renewable energy in Malaysia. With a 50% stake in the SPV each, ATPC and OIE will support the development of advanced EV batteries.