Khazanah Nasional is investing an undisclosed sum in Yinson GreenTech’s ChargEV to increase to number of electric vehicle charging stations nationwide, Yinson GreenTech has announced.
Through its portfolio Dana Impak, Khazanah is investing in support of the target announced by the ministry of investment, trade and industry (MITI) to install 10,000 EV charging points nationwide by this year, towards Malaysia’s target of achieving net zero emissions by 2050, as laid out in the National Energy Transition Roadmap (NETR).
“We are honoured to receive Khazanah’s investment through Dana Impak. This partnership will further bolster our financial strength, allowing us to scale up our operations and reinforce our leadership in Malaysia’s green mobility journey,” said Yinson GreenTech CEO Lim Chern Yuan in a statement.
The investment from Khazanah arrives as Yinson GreenTech saw a five-fold increase in pay-per-use revenue as of December 2024, and charging sessions have doubled compared to the same period in the previous year, Lim said.
According to Malaysian Green Technology and Climate Change Corporation (MGTC) acting group CEO Saiful Adib Abdul Munaff, there are 3,611 EV charging points in Malaysia as of the start of this year.
Of the aforementioned 10,000 EV charger target, Malaysia’s target is to have 1,500 DC chargers and 8,500 AC chargers by the end of this year, as outlined in the Low Carbon Mobility Blueprint (LCMB) 2021-2030 in 2021.
Looking to sell your car? Sell it with Carro.
Please, please, install fast DC chargers along Jalanraya Timur-barat. Currently, no EV can travel from Kedah / Penang to Kelantan / Terengganu. Please install them in Jeli and Gerik. They are basically located in the middle of the journeys between these states.
It is unacceptable that this major road has no EV chargers. Thailand has chargers even in their remotest towns. EV drivers travelling between these states have to make a detour into Thailand to charge their cars. What a shame!
Asbolutely agree on this! Gerik definitely needs a DC charger. Can serve travellers from Kedah/Penang/Perak going towards east coast.
Only your EV cannot travel from Penang to Kota Bharu. Most EV’s can cover that 350km stretch easily.
Khazanah which is basically taxpayers now funding for rich man playtoys.
Remember that B40s also contribute to Khazanah via SST so basically means the B40s who are going to pay unsubsidised petrol, is subsidising EV charging for the T20s. Well done PMX!