KUALA LUMPUR: Yinson
GreenTech, the green technology arm of Yinson Holdings Bhd, has received an investment from Khazanah Nasional Bhd to increase the number of charging stations in the country.
Yinson GreenTech said the investment through Khazanah's Dana Impak will allow it to scale up operations in its electric vehicle (EV) charging business, chargeEV.
Yinson GreenTech CEO Lim Chern Yuan said the investment arrived at an opportune time as the company is experiencing substantial business growth.
"As of December 2024, our pay-per-use revenue has increased fivefold, and our charging sessions have doubled compared to the same period in previous year.
"We look forward to further enhancing the country’s EV ecosystem to meet the rapidly growing demand for reliable, convenient and seamless charging experiences across Malaysia," he said in a statement.
Khanazah managing director Datuk Amirul Feisal Wan Zahir said the investment is its commitment to facilitating the nation's transition towards a low-carbon future and aligns with the Energy Transition pillar under Khazanah’s Malaysia Strategy anchored on the “A Nation that Creates” framework.
"As Malaysia's electric vehicle ecosystem is still in its infancy, our involvement is aimed at nurturing its growth.
"We hope it will also inspire other investors to join the effort, creating a collaborative approach to building a comprehensive and reliable EV infrastructure across the nation."
