Sunsuria is considering a partnership with China’s IAT Automobile Co Ltd to do research and development in electric vehicles (EV) and EV-related products.
According to a filing with Bursa Malaysia, the collaboration will involve the development and production of Malaysia’s own brand of EV with cutting-edge technological developments together with China’s largest independent automotive design company, IAT.
Sunsuria IAT (M) Sdn Bhd is a joint venture in which Sunsuria owns 51% and IAT owns 49%.
The collaboration also intends to build and grow EV innovation parks, as well as jointly establish an ASEAN Automotive Design and Innovation Centre. The collaboration will be headquartered in Malaysia, with plans to expand to additional nations in the region in the future.
The MoU would allow the corporation to engage with IAT on research and development in the area of EV and EV-related products, as well as provide automotive education and talent cultivation for Malaysia and South East Asia to improve operational efficiency.
It is also part of a series of foreign direct investments totaling RM170 billion from China, secured in conjunction with Prime Minister Datuk Seri Anwar Ibrahim’s visit to China.
Sunsuria is a multi-faceted and well-established publicly listed property developer, that also diversifies into construction, landscape and nursery, food and beverages, digital development, education, integrated healthcare, retail and other complementary businesses and joint ventures.
