KUALA LUMPUR: Automotive component manufacturer, Sapura Industrial Bhd
(SIB) has entered into a memorandum of understanding (MoU) with Shanghai Auto Electric Drive Co Ltd (SHedrive) to localise the manufacturing of components and assembly for electric drive systems (EDS).
In a filing with Bursa Malaysia today, SIB said the strategic collaboration would support the development of the local electric vehicle (EV) ecosystem.
"The MoU shall be effective from the date of signing and shall remain in force for one year unless terminated earlier by either party.
"Key areas of the proposed collaboration include technology transfer, local manufacturing and assembly, supply chain development, product customisation and talent development and training,” it said.
SIB said the MoU provides a platform for both companies to evaluate and negotiate the terms of the proposed collaboration.
"Both companies are also expected to leverage their respective expertise and capabilities to support the development of the local EV ecosystem, enhance technology transfer, and create potential opportunities for future business growth,” it added. - Bernama
