Electric Buses Coming To KL In CFMB's Ties With Thailand's EA

The Thai company is also known as the Tesla "giant of Thailand," and together with CFMB, they will form a JV company for greener mobility solutions

Electric Buses Coming To KL In CFMB's Ties With Thailand's EA

Malaysia is really "GOING GREEN" and this thanks to the Computer Forms (M) Bhd's RM5 billion investment promises in the electric vehicle business.

The Malaysian company is in a strategic partnership with Bangkok-based Energy Absolute Public Company Ltd.

The Thai company is also known as the Tesla "giant of Thailand," and together with CFMB, they will form a JV company for greener mobility solutions, with the goal of driving more EVs and renewable energy projects to meet Malaysia's Net Zero ambition.

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The JV company will capitalise on opportunities in the production and distribution of EVs such as EV-buses, EV-cars, EV-trains, EV-bikes, and EV-boats in Thailand, where Energy Absolute PL has strong resources and proven capabilities.

An estimated RM5 billion will be invested in EV and RE ventures over time to help Malaysia meet its COP21 energy conversion mandate (the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change).

Malaysia's EV Ecosystem

The planned ventures include developing energy storage and charging platforms, manufacturing lithium-ion batteries to support Malaysia's EV ecosystem, as well as solar energy and wind power projects.

These investments will be driven by new Malaysian and Thai teams that will integrate clean energy and mobility solutions to assist Malaysian corporations in effectively decarbonizing.

"Through our strong partner Energy Absolute PCL, the partnership venture will bring excellent capabilities and know-how to support CFMB's diversification plans to drive business growth in the EV, and RE sectors,” commented CFMB’s managing director Datuk Wira Justin Lim.

"We expect the partnership to produce competitive returns because greening Malaysia's public transportation system aligns with the country's national plan to reduce Malaysia's carbon footprint."