Tan Chong Motor Unit Signs MOU to Explore EV Battery Pack Localization in Malaysia
MT Newswires Live
Sep 18
Tan Chong Motor's (KLSE:TCHONG) unit TQ Manufacturing signed a memorandum of understanding with China's Saike REPT Power Battery System to explore localizing battery packs and other components for electric vehicles in Malaysia.
The parties will conduct feasibility studies covering battery-pack localization for TQ Wuling electric vehicles, potential supply to other countries, and the recycling and second-life use of used EV battery packs, according to a Thursday filing.
The MOU, valid for 12 months, is not expected to materially affect the company's financial results for the year ending Dec. 31, 2026.
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