Greatech clinches first US order

PETALING JAYA: Greatech Technology Bhd has secured its first purchase order in the United States from a new electric-vehicle (EV) customer for equipment to produce lithium-ion battery cells.

“This new order confirms that our customer has confidence in our technology, quality and reliability of our high-tech equipment,” it said in a filing with Bursa Malaysia.

Greatech said the EV market has witnessed rapid evolution with the ongoing developments in the automotive sector, in the region of North America, Europe and Asia Pacific.

Policymakers in the respective region, country and state play a pivotal role in the effort to transform transportation.

Based on the recent research article as published by the National Conference of State Legislatures, 45 states and the District of Columbia provide incentives for certain EVs and/or plug-in hybrid vehicles, either through a specific utility operating in the state or through state legislation.

“Given the favourable environment and rapid evolution in the EV industry, Greatech group has been actively exploring the various area of business opportunity in this rapidly growing energy storage sector,” it added.

The group currently has a customer base in the solar, semiconductor, energy storage and life science industry.

“Based on the orders secured by the group for year-to-date and progress of the subsidiary, the group expects positive development in the energy storage sector in 2021,” Greatech said.

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