ACO Tech, MARii And Geno Inks MoC To Explore EV Blockchain Solutions

L-R: ACO Tech CEO Li Pu, MARii CEO Azrul Reza Aziz, and Geno CEO Zhang Yi Ian singing their MoC earlier this week.

Smart mobility provider ACO Tech has inked a Memorandum of Collaboration (MoC) with Geno and the Malaysia Automotive, Robotics & IoT Institute (MARii). Together, all three parties are set to explore blockchain solutions for the local Malaysian electric vehicle (EV) infrastructure.

Present at the MoC signing held earlier this week were ACO Tech CEO Li Pu, MARii CEO Azrul Reza Aziz, and Geno CEO Zhang Yi Ian.

This collaborative agreement aligns with the New Industrial master Plan 2030 (NIMP 2030), as well as the National Energy Transition Roadmap (NETR) set out by the government, which aims to achieve 20% of Electrified Vehicles (xEV) by 2030, 50% by 2040 and 80% by 2050.

Specifically, all three parties are poised to explore the application of smart contracts, digital traceability management of supply chain, tokenomics solutions, as well as privacy protection technologies. The aim of which is to complement ACO Tech’s solutuons for E-Mobility Service Platform (E-MSP).

Together, ACO Tech, MARii and Geno seek to explore blockchain solutions to further develop the local Malaysian EV infrastructure.

According to ACO Tech, blockchain tech can empower EV makers, service providers and owners a more interactive engagement through a tamper-proof decentralised ledger system.

Together, this collaboration effectively addresses concerns associated with owning an EV such as charging ports scarcity and their inconsistent rates for which. The utilisation of blockchain tech promises to empower EV makers, service providers, and owners to engage more interactively through a tamper-proof decentralised ledger system.

At the same time, said approach promises cost-reductions, enhanced user experiences and confidence, as well as establishing seamless tracking and maintenance records. This will also help to facilitate peer-to-peer energy and charger sharing, thus ensuring transparency throughout the entire lifecycle of products and services.

“We are confident collaborations such as ours with MARii and Geno are the way forward in accelerating and expediting a comprehensive and conducive EV ecosystem for Malaysia, with an emphasis on security,” ACO Tech’s CEO Li Pu. He also added Malaysia can position itself as a regional EV leader should it capitlise on opportunities as such and address the challenges noted.

The use of blockchain tech in EV charging infrastructure also promises cost-reductions, enhanced user experiences, as well as the establishment of seamless maintenance tracking.

MARii CEO Azrul Reza added to which noting that this “marks a significant step forward in shaping the future of Malaysia's EV ecosystem. 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.”

“This strategic move is aimed at enhancing engagement with end-user customers, enabling earlier, deeper, and more enduring interactions,” adds Zhang Yi Ian, CEO of Geno. The same exec also highlighted that this initiative will be the first industrial-grade application of blockchain solutions, too.

ACO Tech, Geno, and MARii are committed to the active exploration of viable technologies towards the national Connected Mobility vision.