Sykworth Drops NexV Auto For BCorp - Malaysian NEV Expansion Plans

Just months ago, we reported that NexV Auto Alliance Sdn Bhd (NAASB), a subsidiary of Careplus Group Berhad, had secured exclusive distribution rights for Skyworth's EV in Malaysia from principals Jiangsu Skywell Automobile, China.

However, it appears that this deal is no longer in place. Recently, Berjaya Corporation Bhd (BCorp) has signed a strategic cooperation memorandum (SCMs) with Skyworth Group Co Ltd and Skywell New Energy Automobile Group Co Ltd. These agreements mark the beginning of two key alliances aimed at fostering innovation and expansion in Malaysia and the broader ASEAN region.

The partnership between BCorp and Skyworth is focused on advancing smart technologies in Malaysia by leveraging BCorp's extensive distribution network. This will also include the development and implementation of green energy solutions, aligning with BCorp’s sustainability goals and contributing to a greener future for Malaysia.

Additionally, Berjaya Eco-Drive Sdn Bhd (Berjaya ED), a subsidiary of BCorp, will collaborate with Skywell to position the Chinese company as a leading new energy vehicle (NEV) brand in Malaysia and the ASEAN region. This initiative seeks to drive NEV growth throughout the region by exploring strategic partnerships to advance essential NEV technologies and strengthen the NEV ecosystem in Malaysia.

The memorandum of strategic cooperation between BCorp and Skyworth was signed by BCorp joint CEO Vivienne Cheng Chi Fan and Skyworth chairman Lin Jin. The agreement between Berjaya ED and Skywell was signed by Berjaya ED director Datuk Tony Khor and Skywell CEO Zhu Ping. Witnessing the ceremony were Tan Sri Vincent Tan, founder and adviser of BCorp, and Stephen Wong Wello ok, founder and controlling shareholder of Skyworth and Skywell.

Vincent Tan stated, "By combining our expertise and leveraging regional strengths, we are at the forefront of catalysing innovation, fostering sustainable development, and paving the way towards a more prosperous future for the entire region.”

Meanwhile, Stephen Wong expressed confidence that the joint efforts and sincere cooperation of both parties will achieve mutual benefits and win-win outcomes, strengthening talent training, localising the entire industrial chain, and creating landmark projects for China-Malaysia economic and trade cooperation.