KUALA LUMPUR (April 5): Greatech Technology Bhd said it has secured its first purchase order in the United States from a new electric vehicle (EV) customer for equipment to produce lithium-ion battery cells.
“This new order confirms that our customer has confidence in our technology, quality and reliability of our high-tech equipment,” the industrial automation solutions provider said in a statement.
The identity of the customer and the value of the purchase order were not disclosed.
On Feb 2, Greatech announced that it has, via its unit Greatech Integration (USA) Inc, teamed up with US-based company Atlis Motor Vehicles to assist Atlis to develop an electric vehicle battery pack assembly production line at its headquarters located in Arizona.
In its statement today, Greatech said the EV market has witnessed a rapid evolution with the ongoing developments in the automotive sector, particularly in North America, Europe and Asia Pacific.
Citing an article published by the National Conference of State Legislatures, the group said that in the US alone, 45 states and the District of Columbia provide incentives for certain EVs and/or plug-in hybrid vehicles, either through a specific utility operating in the state or through state legislation.
Greatech said it has been actively exploring various new business opportunities in the energy storage sector, noting that its customer base is primarily in the solar, semiconductor, energy storage and life science industries.
The statement noted that Greatech Integration had secured a leased facility in Michigan, US with a combined space of approximately 16,000 sq ft.
“In Mid-February 2021, the team has moved in to the facility. Prior to this, the team was actively working from home and constantly talking to potential customers through virtual meetings,” it added.
Shares in Greatech closed 2.53% or 14 sen higher at RM5.67, valuing the group at RM7.1 billion.