KUALA LUMPUR (April 18): Vsolar Group Bhd today entered into a collaboration agreement with Hong Kong’s PB Control Limited (PB) to examine the viability of establishing a production facility in Malaysia for the manufacture of heavy duty fast chargers and related range of electric vehicle solutions.
The agreement between Vsolar’s wholly-owned subsidiary Cube World Sdn Bhd and PB also involves the supply, installation and commissioning of industrial electrical charging systems or infrastructure at various in-bound logistics terminals in China, to be identified by PB.
In a bourse filing, Vsolar said the project duration is 18 months from the date of the agreement, and that Cube World would need to ensure the timely and prompt procurement and shipping of the main systems hardware for industrial electrical charging of heavy-duty vehicles for the project.
It would also provide the financial management and support arising from the procurement and supply of the systems hardware for the project.
PB would be the main contractor, project manager and main systems installer and integrator of the project.
The agreement will not have any material effect on the group’s earnings and earnings per share. Vsolar today closed 0.5 sen or 3.45% higher at 15 sen, for a market capitalisation of RM57.91 million. Some 16.68 million shares were traded.