Pro-Net, the distributor of smart vehicles in Malaysia and Thailand, has obtained RM200 million in financing from CIMB Bank for the funding of its green mobility initiative and the import and distribution of the smart #1 EV in Malaysia.
The wholly-owned subsidiary of Proton says that it is also charged with fulfilling the national carmaker commitment to its EV agenda, and is set to play a pivotal role as it leads the transition towards the production of New Energy Vehicles (NEV is a China term for electrified vehicles) and the development of the Automotive High Tech Valley in Tanjong Malim.
“CIMB’s recognition of market opportunities and their proactive approach to support our expansion initiatives exemplify the kind of partnership we value at Pro-Net. We express our gratitude to CIMB for the opportunities afforded to Pro-Net and Proton in expanding our offerings and providing a diverse selection of EV models to meet the evolving needs of our customers. This not only accelerates our growth but also reinforces customer confidence and facilitates the transition toward increased adoption of electric vehicles,” said Pro-Net board member Roslan Abdullah.
“We will utilise this financing to enhance our digital ecosystem and supply chain in EV infrastructure and expand our network for a seamless retail experience. This will facilitate the rising demand for electric vehicles, aligning with Malaysia’s carbon neutrality objective,” added Roslan, who is also Proton’s deputy CEO.
“We are honoured to support Pro-Net in advancing its green mobility initiative. The transaction underscores CIMB’s commitment in supporting clients across diverse industries to advance their ESG agendas and fostering positive impacts through sustainable finance solutions. This aligns with CIMB Group’s ambition to become a leading focused ASEAN bank and sustainability leader in the region, as outlined in our Forward23+ strategic plan,” said Novan Amirudin, co-CEO of group wholesale banking at CIMB Group.
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