Posted on 16 Jan 2024
NexV Manufacturing, a joint venture between Malaysia-based glove maker Careplus and electric vehicle (EV) firm GoAuto, will build a new energy vehicles (NEV) manufacturing and assembly plant in Negeri Sembilan of Malaysia, Kallanish notes.
The duo say in a joint statement the total investment for the plant development is about MYR 600 million ($129m). The plant will commence operations in the first quarter of 2025.
The plant will have a capacity of 30,000 vehicles/year, of which one third will be NETA models. The plant will not only assemble NETA vehicles, but will be open to other NEV brands intending to carry out completely knocked down (CKD) assembly of passenger and commercial EVs or electric motorcycles.
Phase one of the project involves the development of an assembly plant, expected to begin in the first quarter of 2024. Meanwhile, phases two and three will begin in 2026 and 2028 respectively, expanding to an even bigger production capacity of 50,000 units/year.
Source:Kallanish
