MARA CORP INKS COOPERATION WITH TWO CHINESE COMPANIES, EXPLORING THE SCOPE OF RENEWABLE ENERGY

From Muhammad Saufee Rosman

SHANGHAI, May 27 (Bernama) – MARA Corporation (MARA Corp) today signed cooperation agreements with two major companies in China to explore new business ventures, particularly in renewable energy, electric vehicle (EV) bus repair and maintenance, and storage and solar energy storage batteries.

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the initiative by the group of companies under Majlis Amanah Rakyat (MARA) was the first step in helping the government shift public transport from diesel engines to electric vehicles.

“… But more importantly, we have acquired new technologies in public transport (through cooperation) and we have made a difference in the public transport (sector).

“We know that the Cabinet directive required the gradual conversion of all buses (in Malaysia) from diesel to electric vehicles and this is being done by MARALiner together with a local company (from Malaysia) that manufactures buses (SKS Coach Builders Sdn Bhd (SKS)) and they have a huge experience,” he told Malaysian media today.

He said this after witnessing the signing of a Memorandum of Understanding (MoU), Memorandum of Understanding (MoA) and Letter of Intent (LoI) between SKS and CRRC Corporation (CRRC); MARALiner and SKS; and MARA Corp and China Electrical Equipment Group (CEEG), respectively.

CRRC, through its subsidiary CRRC EV, is a leader in electric bus production, with over 120,000 units sold to date. CEEG, in turn, consists of four groups of companies with 150 subsidiaries that provide 200 substations and 6,000 km of transmission lines in 50 countries around the world.

Ahmad Zahid, also Minister of Rural and Regional Development, is on his first official visit to China since his appointment as Vice Prime Minister in December 2022. The 11-day visit starting May 22 is at the invitation of Chinese Vice Premier Ding Xuexiang.

Ahmad Zahid said Malaysia’s current 60,000 diesel buses must gradually switch to electric vehicles over the next 10 years, as agreed in the previous cabinet meeting.

“We see that in the long run this will reduce carbon emissions and be cheaper than using diesel.

“However, I will discuss this in detail with the Minister of Transport (regarding the period planned for the conversion of 60,000 diesel buses to electric vehicles),” he announced.

Meanwhile, MARA Corporation through MARALiner aims to be a leader in the supply of electric buses, including direct sales and leasing of public and government transport, with an estimated 800 buses worth approximately RM960 million.

MARA in a statement said that the business cooperation with both companies from China will benefit human capital development especially in the field of TVET (Technical and Vocational Education and Training) through advanced training and employment opportunities specifically for MARA TVET students in which CRRC and CEEG would be involved in providing technical and industrial support in the development of the Malaysian China Institute (MCI).

“In addition, the MARA supplier development ecosystem and entrepreneurs will benefit from this collaboration through the involvement of local suppliers in the supply of electric bus components, as well as increased business opportunities for entrepreneurs under MARA’s ProPower program through the transfer of technology and expertise received from these major Chinese companies,” he added .

— BERNAMA

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