Sunsuria Signs MoU With China’s IAT Automobile To Boost EV Development In Malaysia

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Sunsuria Group recently announced its collaboration with China-based IAT Automobile through  a memorandum of understanding (MOU) to form an operation facility in Malaysia for the development of electric vehicles (EVs).

Through a filing with Bursa Malaysia, the partnership includes both parties to commence research and development (R&D) in the area of electric vehicles (EVs) and its related products.

According to The Star, it further includes both companies to provide automotive education (college), talent cultivation for Malaysia and South East Asia in order to boost operational efficiency. 

Aside from that, the initiative further involves creating and manufacturing Malaysia’s own brand of EVs which are set to be accomplished through a joint venture collaboration with 51% shares owned by Sunsuria IAT and the remaining 49% towards China's biggest independent car design company, IAT. 

"The MoU is part of the series of foreign direct investments with a total commitment of RM170 billion in investments from China, which was secured in conjunction with Prime Minister Datuk Seri Anwar Ibrahim’s visit to China," it said. 

With that being said, Malaysia will serve as the partnership's primary operational hub having future expansion plans to include more countries in the state. 

A quick look at the China-based company website reveals its interest in pursuing vehicle R&D which its products mainly developed and focus on V6 fuel and clean fuel engines among other things which operate its businesses primarily in the domestic market.