TT Vision ties up with Autowell Singapore to set up manufacturing hub

PETALING JAYA: TT Vision Holdings Bhd (TTVHB) has tied up with Autowell (Singapore) Pte Ltd (ASPL), a wholly-owned subsidiary of China-listed Wuxi Autowell Technology Co Ltd, to establish a new manufacturing hub catering to the overseas solar energy markets.

In a statement, TTVHB said the manufacturing base will be for the research and development, production and sales of automation equipment, as well as related hardware and software products intended for the overseas solar energy markets such as South-East Asia, Europe and America.

Under the joint venture, both parties have collectively agreed to set up a joint venture company in Malaysia with an initial starting capital of RM166.6mil, of which TTVHB will have 15% equity stake, while the remaining 85% will be owned by ASPL.