KUALA LUMPUR (Feb 24): Malayan Banking Bhd (KL:MAYBANK) and Tenaga Nasional Bhd (KL:TENAGA), through its electric vehicle (EV) charging arm TNB Electron, have rolled out a pilot EV charging initiative at Maybank Academy in Bangi.
The partnership, which marks the first collaboration between TNB Electron and a financial institution, is part of a broader push to support the nation's sustainability agenda, combining Maybank’s financing capabilities with Tenaga’s infrastructure expertise.
It builds on Maybank’s support for Tenaga’s Transition Finance Framework and aligns with the bank’s ROAR30 New Economy pillar, which focuses on advancing smart city solutions.
“By making EV charging more accessible and convenient, we are supporting clients in shifting to cleaner mobility while addressing a key barrier to wider full EV adoption.”
“With significant headroom for growth, Malaysia’s EV ecosystem still remains at an early but promising stage. In 2025, Maybank disbursed over RM1 billion for EV and qualified hybrid car financing," said Maybank president and group CEO Datuk Seri Khairussaleh Ramli in a statement on Tuesday.
Malaysia’s EV industry has been gaining traction, with registrations up 106% year-on-year, led by demand in the Klang Valley, Johor Bahru and Penang. Nationwide, there are now more than 5,700 public charge points, while TNB Electron has deployed over 260 charge points across highways, trunk roads, commercial areas and TNB premises.
Besides, the utility has also offered seasonal discounts of up to 25% per kilowatt hour during school holidays and festive periods to encourage adoption.
TNB president and CEO Datuk Megat Jalaluddin Megat Hassan noted that the collaboration strengthens TNB Electron’s role as a key enabler of Malaysia’s EV ecosystem.
“With more than 260 EV charge points deployed nationwide, we are advancing grid readiness, enhancing system reliability and supporting long-term sustainability through partnerships with forward-looking organisations such as Maybank," he said.
The pilot will serve as a testbed for further deployment of EV charging facilities at selected Maybank branches across Peninsular Malaysia, focusing on strategically located sites to enhance accessibility and support the growing adoption of EVs nationwide.