Automotive component maker Sapura Industrial Berhad (SIB) has announced a joint-venture with China’s Zhejiang Zhongze Precision Technology Co Ltd (ZZ Tech) to produce EV battery components in Malaysia, specifically high-precision storage battery casings. The MoU was signed in March.
“This partnership reinforces SIB’s position as a trusted, high-quality manufacturing partner, not just within the automotive sector, but across a broader spectrum of precision components,” said SIB industrial business president Fazal Othman Mohd Ghazal.
“We are excited to partner with Sapura Industrial Berhad to bring our precision engineering capabilities to Malaysia. SIB’s strong local expertise and track record in high-quality manufacturing make them an ideal collaborator as we expand our footprint in Southeast Asia,” said ZZ Tech VP Li Xin.
According to SIB’s release, this JV represents the company’s diversification into the energy storage and battery ecosystem. The New Straits Times’ Business Times reports that RM18 million is the initial investment and a new company will be formed (51/49 owned by SIB Ventures and ZZ Tech respectively).
SIB Ventures will handle corporate, licensing, environmental and regulatory matters, and source a suitable location for the plant. ZZ Tech will provide machinery, technical expertise, training and customer support. ZZ Tech, incorporated in China in 2016, makes structural components for batteries used in new energy vehicles (hybrid, plug-in hybrid and battery-electric vehicles) and energy storage.
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So China will build their spyware hardware directly into the battery itself to monitor us. Well done!