ACO Tech, Geno, and the Malaysia Automotive, Robotics & IoT Institute (MARii) have signed a Memorandum of Collaboration (MoC). The MoC aims to explore the use of blockchain solutions for the Electric Vehicle (EV) infrastructure in Malaysia.
In a press statement, the three parties say that their combined expertise will effectively address concerns such as the scarcity of charging ports and inconsistent charging rates. According to the statement, “the utilisation of blockchain technology solution empowers EV manufacturers, service providers and owners/users to engage more interactively through a tamper-proof decentralised ledger system. This approach aims to reduce costs, enhance user experience and confidence, and establish seamless tracking and maintenance records. Additionally, it facilitates peer-to-peer energy and charger-sharing, ensuring transparency throughout the entire lifecycle of products and services.”
Other blockchain solutions being explored by the collaboration are smart contracts, digital traceability management of supply chain, tokenomics solutions and privacy protection technologies to complement ACO Tech’s solutions for E-Mobility Service Platform (EMSP). According to the three parties, this initiative can ensure data privacy and ownership, enable data monetization, and ultimately benefit strategic investors through long-term sustainable investments.
ACO Tech CEO, Mr. Li Pu said, “We are excited at the growth prospects of the mobility sector in Malaysia thanks to the Government’s support and progressive national policies. As a leading smart mobility solutions provider, ACO Tech is ready to share our knowledge and expertise as well as support all stakeholders in achieving national goals. We are confident collaborations such as ours with MARii and Geno are the way forward in accelerating and expediting a comprehensive and conducive EV ecosystem for Malaysia, with an emphasis on security. By addressing challenges and capitalising on opportunities, Malaysia can position itself as a leader in the EV revolution in Southeast Asia.”
MARii CEO, Mr. Azrul Reza Aziz said, “Our collaboration with ACO Tech, a joint venture between Proton, ECARX and Altel Communications, and Geno, marks a significant step forward in shaping the future of Malaysia’s EV ecosystem. By exploring blockchain solutions, we are not only addressing current challenges in the EV sector but also laying the groundwork for a secure and scalable infrastructure aligned with the National Automotive Policy 2020. By synergising our capabilities, we aspire to set new industry standards, promoting sustainable practices and user-centric innovations.”
Geno CEO, Mr. Zhang Yi said, “This initiative signifies the first industrial-grade application of a blockchain solution. The primary goal is to facilitate a transformative shift for participating enterprises towards a service-focused model. This strategic move is aimed at enhancing engagement with end-user customers, enabling earlier, deeper, and more enduring interactions.”
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