Kineta Inks Exclusive Distributorship Agreement With Zhida EV Charger

Kineta Sdn. Bhd., a wholly owned subsidiary of Sime Darby Berhad, has signed an exclusive distributorship agreement (EDA) with Shanghai Zhida Technology Development Co. Ltd., a leading provider of Smart Energy Solutions based in Shanghai, China.

Kineta, which debuted in Jan 2022, is dedicated to providing end-to-end EV charging solutions and is on track to sell 3,000 chargers by the end of 2023. Through its association with Sime Darby Motors, Kineta is the preferred provider of EV charging solutions for BMW, MINI, BYD, Jaguar Land Rover, Hyundai, Porsche, and Volvo.

Kineta currently holds a 35% market share for home EV charger sales in Malaysia, and is aiming for a 38% market share for electric vehicles by 2040 as part of the government's Low Carbon Nation Aspiration target under the New Energy Policy.

Meanwhile, Zhida, which is ranked No. 1 in China's private charger segment, has a solid history of collaborating with 80% of global automotive brands. It also maintains a significant 28% market share in China and 15% globally. To date Zhida has shipped over 1.63 million EV chargers globally.

This agreement further solidifies Kineta's position as the exclusive distributor of Zhida chargers in Malaysia and Singapore. It ensures Kineta remains as a key player in providing cutting-edge EV charging solutions to meet the growing demand in these vital markets.

Sunny Lee, Managing Director of Kineta, stated, "We are thrilled to join forces with Zhida. This EDA enables Kineta to play a critical role in accelerating the adoption of EV charging solutions in Malaysia and Singapore, thereby contributing to the realisation of sustainable mobility."

Jimmy Huang, Founder and Chairman of Shanghai Zhida Technology Development Co. Ltd., stated, "Sime Darby is the preferred partner of the world's best brands in the automotive and industrial sectors." We hope that by working together, both parties will be able to redefine the green lifestyle and mobility for home users in the Asia-Pacific region by offering safe and dependable charging products, hassle-free installation services, and highly efficient and energy-saving smart energy solutions."