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GoAuto-Careplus joint venture firm to build EV plant in Negeri Sembilan

GoAuto-Careplus joint venture firm to build EV plant in Negeri Sembilan

14 Dec 2023

GoAuto Group and Careplus Group Bhd’s joint-venture company, NexV Manufacturing Sdn Bhd, is set to develop a new energy vehicle manufacturing and assembly plant in the Chembong industrial area, Rembau, starting next year, to be completed in 2028.

Go Auto Group chairman, Datuk SM Azli SM Nasimuddin Kamal said the plant, spanning 29.68 hectares, will be used for the assembly of the electric vehicle (EV) marque, NETA.

The plant will also be available for other EV brands to assemble their own completely knocked-down vehicles.

He said the estimated overall gross development value of the manufacturing and assembly plant development project, including the vendors, amounted to approximately RM600 million.

The first phase of the development entails the construction of the assembly plant, to commence in the first quarter of next year (Q1’24), while phases two and three will kick off in 2026 and 2028, respectively.

SM Azli added that the plant is expected to roll out its first product, the NETA V model, in Q1’25.

“We believe that with support from the principal company from China and having the latest EV product line and technology, we can be an EV leader in the region,“ he said in his speech during the opening ceremony of Careplus Mall which was officiated by Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.

SM Azli said this project can attract the interest of existing and new automotive component suppliers as well as investors from home and abroad to boost the EV automotive industry, at the same time creating jobs and setting up business networks for the EV production ecosystem.

He said in line with the government’s aspiration and continued commitment to reducing carbon emissions while boosting the number of EVs domestically, the company is determined to be among the pioneers of the green technology industry revolution in the country.

“Our vision is to lead the EV industry for the local and Asean markets. We are aiming for new energy vehicles to account for 85% of the entire portfolio of products to be released in the next five years,“ he said.

Source: Bernama

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