KLANG, 19 JANUARY 2024 – Tron Bradbury Energy (Malaysia) Sdn Bhd (“TBE”) launched its first electric vehicle (EV) assembly plant at Port Klang Free Zone (“PKFZ”) today. The state-of-the-art facility focuses on commercial EVs and energy storage systems, and proudly carries the “Made in Malaysia” label.

The launch was officiated by the Minister of Investment, Trade & Industry (“MITI”), Yang Berhormat (“YB”) Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz. Also in attendance were Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, Senior Executive Director, Investment Policy Advocacy of the Malaysian Investment Development Authority (“MIDA”), Mr. Mohamad Zam Zalman Tik, Director of TBE and Mr. Keith Loo, Chief Executive Officer of Bradbury Group, along with representatives from various related companies. Bradbury Asset Management (Hong Kong) Limited (“BAMHK”) is part of the Bradbury Group.

Bradbury Strategic Investment Fund A, a regulated fund managed by BAMHK, invested in the Crewstone Bradbury Penjana Fund, a fund established under the Dana Penjana Nasional program aimed at driving economic growth through innovation and job creation. This strategic investment aims to foster TBE’s growth, with the inaugural launch of TBE’s assembly plant aligning with the New Industrial Master Plan 2030 and National Energy Transition Roadmap (NETR) towards green mobility, steering the shift from a traditional fossil fuel-based economy to a high-value green economy. The plant is operated by a team of skilled Malaysian workforce who have received comprehensive training from TBE’s parent company, Tron Energy Technology Corporation, Taiwan’s leading electric bus and EV battery manufacturer.

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz also witnessed the signing of a Memorandum of Understanding (MoU) between TBE and BAMHK, outlining their strategic collaboration to establish a regional EV hub in the Malaysian Vision Valley (MVV) as part of TBE’s long term vision. The hub will scale up TBE’s capacity from an EV assembly operation to include full-scale manufacturing and distribution capabilities, as well as a cutting-edge battery R&D facility. The development is projected to generate an estimated revenue of more than RM 2 billion annually.

TBE envisions Malaysia playing a pivotal role in the global EV industry. The collaboration between the two entities seeks to contribute to a sustainable and innovative future, fostering green economic growth within the country.

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz said, “The Government will continue to strongly support and develop the Electric Vehicles (EV) industry. It is our fervent hope that Malaysia’s industry will continue earning their stripes in the EV regional ecosystem and supply chain, both from a semiconductor and automotive perspective. The use of EVs must also be accessible to the masses for us to reach critical mass that will support our net zero goal by 2050. Ultimately, all these efforts would help ensure Malaysia’s resilience, competitiveness and most importantly, continued relevance in the regional supply chain in line with global technological advancements, so that we can attract quality investments, expand trade and offer higher-paying jobs for our rakyat.”  

Datuk Wira Arham Abdul Rahman, CEO of MIDA, extended his heartfelt congratulations, emphasising, “The establishment of a dedicated manufacturing facility for EVs and batteries, which includes an advanced R&D centre by TBE, will propel Malaysia to the forefront of greener transportation and demonstrate the growing confidence of EV industry players with the country’s EV ecosystem and development. This transformative green mobility journey focuses on technological advancements and reflects the growing trend where a substantial number of companies are aligning a significant part of their businesses with Sustainable Development Goals (SDGs). The full-scale manufacturing activities are also poised to uplift the skills of our employees, catalysing the development of local supporting industries, research and development, and related sectors. MIDA remains steadfast in our commitment to cultivate a supportive environment, conducive to the growth and enrichment of Malaysia’s industrial landscape. Congratulations to all stakeholders involved in bringing this visionary project to fruition – a significant stride towards a sustainable and innovative future.”

Mr. Richard Huang, Chairman of TBE commented, “We see an opportunity for tremendous growth in Malaysia and are excited about the possibilities represented by our partnership to position Malaysia as a leader in the fast-growing global EV market.” He also noted that BAMHK’s financial support is a key driver propelling TBE’s initiatives forward.

Bradbury Group CEO Mr. Keith Loo added, “Our investment in TBE is a testament to our strong belief in the potential of Malaysia as a key player in the global EV industry and the economic opportunities Malaysia has to offer. We are glad to be able to play a part in the nation’s progress towards a sustainable future and look forward to contributing to the economic growth of this region.”

The collaboration between BAMHK and TBE underscores the increasing importance of green energy investments. As nations globally transition towards sustainable practices, Malaysia’s market potential in the green energy sector is poised for significant growth. The partnership aims to harness this potential, fostering innovation, economic development and environmental sustainability, leading the way towards a net zero carbon future.