AFUJIYA; Closest potential EV battery manufacturing beneficiaries

ABM Fujiya Bhd is principally engaged in investment holding activities. The company through its subsidiaries is involved in the manufacturing of automotive batteries and other batteries. In addition, it is also engaged in the dealing and retailing of automotive batteries and lubricants. The company is organised into two main reportable segments, Manufacturing and Marketing. Manufacturing segment includes manufacturing and distribution of batteries, and marketing segment includes marketing and retailing of batteries and lubricants.

                          (Example of golf cart being powered by Deep Cycle Batteries)

Amalgamated 40 years of experience battery specialist

There are arguments that Deep Cycle batteries are not the one being used in the conventional EV and most of them are on Lithium-ion batteries. Yes, it’s true, but given that Afujiya has been there for 4 decades with their experience and existing production line, it is not hard for them to actually produce Lithium-ion batteries for EV. Since Tesla is setting up their plants in Indonesia, and could be a potential customer for Afujiya as well since Sarawak is a strategically located near to indonesia and Afujiya already has access to Indonesia market for their existing products. The author personally think that Afujiya is an alternative for those who wanted to bank on EV related stocks.

https://www.theedgemarkets.com/article/abm-fujiya-inks-mou-chinese-firm-battery-manufacturing-plant

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