Hong Seng Consolidated Bhd (HSC) and US-based EcoCell Inc have entered into a memorandum of understanding (MoU) to initiate a regional manufacturing hub in Malaysia to produce batteries for electric vehicles (EVs) and energy storage solutions, which work to eventually be supplied to EV manufacturers and assemblers in the Southeast Asian region.
HSC will be responsible for identifying and proposing suitable locations for the project's site, proposing suitable consultants to undertake the necessary studies, and liaising with the government to obtain incentives and necessary authorisations.
“EoCell engineers have been key contributors to design and manufacturing of PHEV and EV batteries for prestigious brands such as BMW, VW, Audi, Porsche, and Daimler,” said HSC managing director Datuk Seri Teoh Hai Hin.
“They are truly pioneers in the electrification movement, and we look forward to working with them to design and develop world-class EV batteries to be produced in our factory.”
EoCell Inc is a Silicon Valley-founded research and technology company specializing in the design and development of high-energy nano-silicon anode materials and non-flammable electron technologies for advanced silicon and solid-state batteries.
EoCell holds a number of patents in battery technology in the US, is currently in a collaboration agreement with Morrow Batteries AS in Norway, and in discussions with a number of tier-1 OEM suppliers in the EV industry and other global battery manufacturers.
Under the MoU, EoCell will work to provide licenses of battery and manufacturing technology for EV batteries, relevant industry and technology knowledge concerning the implementation of the project, and expertise in battery production line design and installation.
“As the world enters into the electrification revolution era, the group has determined that the MoU is expected to provide a timely opportunity to venture into the EV battery and energy storage solutions sector,” he continued.
EoCell’s CEO Datuk Michael Loh also commented on the momentous occasion stating, “We believe Hong Seng is poised to become one of Southeast Asia’s leading battery producers with a focus on sustainable production facilities powered with clean green energy.”
“We are excited to partner with them to develop their first-generation best-in-class battery for the EV market and look forward to collaborating on additional projects with them in the future. The Southeast Asian electrification movement is underway, and Hong Seng has a great strategy to fulfill this upcoming demand.”