In Malaysia, Yinson GreenTech, an electrification ecosystem, revealed on Monday that Khazanah Nasional Berhad, the nation’s sovereign wealth fund, has invested in its chargEV electric vehicle (EV) charging company.
In a statement, Yinson GreenTech said that by financing chargEV, a company founded by the Malaysian Green Technology and Climate Change Corporation (MGTC), a division of the Ministry of Natural Resources and Environmental Sustainability (NRES), Khazanah, through Dana Impak, is aiding the Malaysian government’s initiatives to encourage and get Malaysia ready for EV adoption.
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This is consistent with Malaysia’s long-term goal of sustainable development and its shift to a greener economy, as stated in the National Energy Transition Roadmap (NETR), which aims to reach net zero emissions by 2050.
This will assist chargEV in expanding the country’s charging station network in order to fulfill the Ministry of Investment, Trade, and Industry’s (MITI) pledge to create 10,000 EV charging stations.
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Lim Chern Yuan, Chief Executive Officer of Yinson GreenTech said, “This partnership will further bolster our financial strength, allowing us to scale up our operations and reinforce our leadership in Malaysia’s green mobility journey, This investment arrives at an opportune time, as we are experiencing substantial business growth,”.
In comparison to the same period last year, he claims that as of December 2024, the company’s pay-per-use income has grown fivefold and their billing sessions have doubled.
he added. “We look forward to further enhancing the country’s EV ecosystem to meet the rapidly growing demand for reliable, convenient and seamless charging experiences across
Malaysia, This investment is our commitment to facilitating the nation’s transition towards a low-carbon future and aligns with the Energy Transition pillar under Khazanah’s Malaysia
Strategy anchored on the ‘A Nation that Creates’ framework, As Malaysia’s electric vehicle ecosystem is still in its infancy, our involvement is aimed at nurturing its growth. We hope it will also inspire other investors to join the effort, creating a collaborative approach to building a comprehensive and reliable EV infrastructure across the nation,” he added.
The goal of this collaboration and investment, according to MGTC Acting Group Chief Executive Officer Saiful Adib Abdul Munaff, is to hasten the development of EV charging infrastructure. “At the start of 2025, we have 3,611 charging points nationwide. It is important to continue to increase this number, but it is also important to ensure that these chargers are deployed in the right areas and fully utilized, A good EV charging network is the backbone to support the transition towards EVs. We also encourage CPOs to explore innovative and unique ways to incorporate renewable energy as the main energy supply to further increase the sustainability of driving EVs,”.
Yinson Holdings Berhad, an energy infrastructure and technology firm listed in Malaysia, is the parent company of Yinson GreenTech. The electric transition is energized by Yinson GreenTech in a variety of businesses.
About Yinson GreenTech
Yinson GreenTech (YGT) is the green technologies business unit of Yinson Holdings Berhad (Yinson), a global energy infrastructure and technology company headquartered in Malaysia. Yinson has businesses in offshore production, renewables, green technologies and sustainable investment, and a presence in 20 countries.
