Sunday 19 May 2024
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KUALA LUMPUR (June 15): Electronics manufacturing services (EMS) provider Betamek Bhd is partnering with a China-based company to explore growth opportunities in the Asean automotive industry.

In a statement on Thursday (June 15), Betamek said it had signed a memorandum of understanding (MOU) with Shenzen Zhonghong Technology Co Ltd (SZH) to develop advanced driver assistance systems, and an automotive cockpit system.

The two parties will develop a range of new innovative products that combine Internet of Things-connected and other electronics and digital systems for the growing electric vehicle (EV) market.

The MOU is effective for a one-year period, which will see both parties collaborate to generate new intellectual property, and to potentially develop and market the final products.

SZH was incorporated in China as a private limited company focusing on research and development and innovative automotive electronic product software and hardware technology.

It had in the past collaborated with Betamek for more than 15 years, in the design and development of in-vehicle infotainment and Heacon control panel products.

“As digitalisation becomes more prominent in new vehicles and the growing EV segment, we look forward to providing more value-added solutions in this core business, and expand our footprint in the regional automotive space,” said Betamek managing director Mirzan Mahathir.

Upon the signing of future definitive agreement between the two parties, a joint entity will be formed to leverage their respective strengths, as a marketing arm and service hub targeting the wider Asean market.

Betamek shares had shed half sen or 1.09% to 45.5 sen as at the time of writing on Thursday, valuing the EMS company at RM202.52 million.

Edited ByLam Jian Wyn
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