CSH Alliance enters electric vehicle MoU with BYD Malaysia

In a statement yesterday, CSH Alliance’s wholly-owned subsidiary, Alliance EV Sdn Bhd (AEV), announced a memorandum of understanding (MoU) with BYD Malaysia.

PETALING JAYA: CSH Alliance Bhd aims to revolutionise the nation’s logistics industry by helping industry players adopt zero-emission commercial electric vehicles (EVs) through a collaboration with BYD Malaysia Sdn Bhd.

In a statement yesterday, CSH Alliance’s wholly-owned subsidiary, Alliance EV Sdn Bhd (AEV), announced a memorandum of understanding (MoU) with BYD Malaysia.

This joint cooperation is also to explore business in the distribution of the fully electric commercial vehicle and to provide 4S services – sales, service, spare parts and body and paint services – as well as to explore the possibilities of local assembly of EVs.

According to the statement, Deloitte has forecast the global EV industry to grow at a compound annual growth rate of 29% over the next 10 years, with total EV sales growing from 2.5 million in 2020 to 11.2 million in 2025, then reaching 31.1 million by 2030. It also estimated that EVs would secure approximately 32% of the total market share for new car sales in this period.

It said AEV will be distributing and supplying BYD the T3 model, an EV, and after-sales service together with the spare parts and warranty packages.

One of the clients for this EV is said to be Line Clear Express and Logistics Sdn Bhd, a logistics and courier company in which CSH Alliance owns a 15% equity interest.

CSH Alliance executive director Peter Yap said vans and trucks only made up 1% of the total EV sales in the world. He noted that many leading logistics companies had already declared their commitment to reduce carbon emissions and go zero-carbon in relation to EVs. BYD Group is a manufacturer of EVs.

“Besides the EV distribution itself, CSH Alliance also plans to look into supplying charging stations, energy diversification into solar panels and the spare parts business in addition to building the ecosystem in order to make this EV business a success,” he said.

Yap believes that with strong partners like the BYD Group, the goal of zero emissions can be combined with the needs of commitment to revolutionise the transportation industry and further eliminate fossil fuels.