CIMB Malaysia and CIMB Bank Bhd chief executive officer Gurdip Singh Sidhu
PETALING JAYA: CIMB Group
Holdings Bhd has entered into a strategic memorandum of understanding with Gentari Sdn Bhd via its subsidiary, Gentari Green Mobility Sdn Bhd, to drive green mobility and value chain decarbonisation across Asean.
Via the collaboration, the two parties will offer a range of value-added services as a move to encourage the adoption of electric vehicles (EVs) in Malaysia.
CIMB will deliver targeted financing solutions to Gentari’s customers, facilitate decarbonisation efforts and foster low carbon practices within the sector, in line with supporting national and regional climate ambitions.
In a statement, CIMB Malaysia and CIMB Bank Bhd chief executive officer Gurdip Singh Sidhu (pic) said the partnership signifies a major milestone in CIMB’s commitment to achieving net-zero by 2050.
“With CIMB’s strong foundation in sustainable finance, we believe we can offer solutions that not only drive the clean energy transition, but also create real, measurable impact.
“Together, we will work towards practical and scalable initiatives that help tackle climate challenges, while supporting national and regional sustainability agendas,” he said.
In addition, CIMB will play a role in advancing sustainability adoptions among small and medium enterprises within Gentari’s value chain.
This will be done through providing green banking solutions that will enable businesses to scale faster, contributing to the national target of 10,000 public EV charging stations by 2030.
Vendors will also gain access to CIMBs SMEBizReady financing for capital expenditure, working capital and funding requirements for automation and digitalisation incentives.
Gentari deputy CEO and Gentari Green Mobility CEO Shah Yang Razali said the collaboration with CIMB allows the group to expand its network of stakeholders to make EV adoption more affordable and accessible.
“At the same time, CIMB’s targeted financing solutions not only enable Gentari’s partners to implement decarbonisation measures at scale, but will also provide an opportunity for businesses to optimise their green energy ecosystem potential via the Gentari Go platform,” he said.
The clean energy solutions provider operates the largest licensed direct current (DC) charging network in Malaysia, with over 175 DC charging points out of close to 1,000 charging points across Malaysia, Thailand and India. Additionally, it has deployed over 3,600 EVs through its Vehicle-as-a-Service offerings across the region.
