PTT Synergy explores collaboration on EV project

KUALA LUMPUR: PTT Synergy Group Bhd has inked a memorandum of understanding with Sany International developing (M) Sdn Bhd ad Rootcloud Technology (Singapore) Pte Ltd to explore a collaboration in an electric vehicle (EV) project.

In a filing with Bursa Malaysia, the group said the parties intend to explore a business that provides EV support and solutions via electric battery leasing services and provision of renewable energy and zero carbon logistics instruments.

It said the areas of business in relation to the project would include the construction of an EV charging station, EV battery charging and maintenance services, EV trucks assembly and sales, and an EV trucks tracking, monitoring and management software and system.

It would also include EV battery leasing and after-lease services, carbon management for the EV truck fleet, alternative energy sources and other businesses to be agreed upon.

PTT Synergy said its role in the collaboration would be to facilitate the application of licences and permits from the government agencies and local contacts.

The company and its subsidiaries would also be the user of the EV prime mover and trucks.

"The EV project, should it materialise, would also be expected to contribute towards the Group’s competency in regard to supporting the EV industry (in respect of EV Trucks and batteries, amongst others) and further support the Group’s sustainable environmental targets to reduce overall carbons emissions going forward as the Group shall also be the user for the EV prime movers and trucks under the EV Project," it said.