Bus Cap Berhad and BYD Malaysia have signed a Memorandum of Understanding (MoU) to work together on a Malaysia-based New Energy Commercial Vehicle (NECV) platform. The newly signed partnership aims to establish a local assembly (CKD) and manufacturing facility for BYD electric buses in Perak.
The state is the home base of Bus Cap’s subsidiary, Sin Hock Leong Coach Works (SHL Coach), which has been building buses since 1968. Given the company’s experience and established position in the industry, Bus Cap believed that Perak can become the industrial base for the collaboration.
“This is not merely about introducing electric buses into Malaysia. It is about building a local industrial platform that can support product localisation, assembly, manufacturing, after-sales and lifecycle mobility solutions.
By combining BYD’s new energy vehicle capabilities with Bus Cap’s local platform, we believe there is a meaningful opportunity to strengthen Malaysia’s electric bus ecosystem and position Bus Cap for the next phase of growth. “ – Bernard Ng Chong Yan, Executive Director, Bus Cap Berhad.
In the joint announcement, Bus Cap and BYD said that their new cooperation is not limited to just electric buses. They also intend to look at other commercial and industrial segments while aiming to cover the Southeast Asian region.
“We believe the combination of BYD’s new energy vehicle technology and Bus Cap’s local industrial platform can create a strong foundation for electric bus assembly, manufacturing and deployment in Malaysia. While electric buses are the immediate starting point, we hope this cooperation will not stop there.
Looking ahead, we look forward to working quickly and pragmatically with Bus Cap to evaluate broader new energy commercial and industrial mobility applications, including electric trucks, electric forklifts, electric vans or minibuses and rail-transit-related solutions, where market demand, localisation conditions and definitive arrangements support such expansion.
This cooperation also provides an important strategic starting point for both parties to explore future opportunities in the wider Southeast Asian market.” – Luo Zhongliang, VP of BYD and GM of BYD Commercial Vehicle Division.
In a Bursa Malaysia filing, Bus Cap said that in-depth details regarding the partnership, such as the scope, investment and operating structure, commercial terms, implementation timeline, and other related matters, are still subject to further feasibility assessment and approvals. In addition to that, this MOU will expire after 12 months.
