Sunday 14 Jul 2024
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KUALA LUMPUR (Jan 17): EP Manufacturing Bhd has entered into a Memorandum of Understanding (MOU) with Tenaga Nasional Bhd (TNB) to explore the possibility of localising the production of battery and battery swapping stations for the Asean market.

The MOU also involves deploying battery swapping stations via TNB subsidiary Tenaga Switchgear Sdn Bhd's network in Malaysia and the Asean region.

EP Manufacturing said the MOU was signed by its indirect wholly-owned unit, EP Blueshark Sdn Bhd, and Tenaga Switchgear on Tuesday (Jan 17), and  will be effective for 12 months.

“This collaboration is pursuant to EP Manufacturing’s electric vehicle venture and carbon credit ambitions,” the group said in a bourse filing.

EP Manufacturing’s share price settled two sen lower at 96.5 sen on Tuesday, bringing the group a market capitalisation of RM212.57 million.

Edited ByS Kanagaraju
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