PROTON New Energy Technology Sdn Bhd (Pro-Net) has secured a substantial RM200 mil funding from CIMB Bank Bhd, marking a significant stride in advancing Malaysia’s green mobility agenda. The financing aims to bolster Pro-Net’s efforts in importing and distributing smart #1 electric vehicles (EVs) across the country.

“The company will also be in charge with fulfilling national carmaker Proton Holdings Bhd’s commitment to its EV agenda and is set to play a pivotal role as it leads the transition towards the production of New Energy Vehicles (NEV) and the development of the Automotive High Tech Valley (AHTV) in Tanjong Malim,” it said.

Board member Roslan Abdullah noted CIMB’s recognition of market prospects and their proactive support, signalling a robust partnership conducive to Pro-Net’s growth trajectory.

“This (the financial support) not only accelerates our growth but also reinforces customer confidence and facilitates the transition toward increased adoption of electric vehicles,” he added.

Moreover, Pro-Net plans to utilise the funds to enhance its digital ecosystem, fortify its supply chain within EV infrastructure and expand its network to ensure a seamless retail experience.

“This will facilitate the rising demand for electric vehicles, aligning with Malaysia’s carbon neutrality objective,” Roslan further added.

Meanwhile, CIMB Group co-chief executive officer of group wholesale banking Novan Amirudin highlighted the bank’s commitment to assisting clients in advancing their environmental, social and governance (ESG) objectives. This partnership underscores CIMB’s dedication to promoting positive outcomes through sustainable financial solutions.

Furthermore, Pro-Net holds exclusive authorisation for importing and distributing smart vehicles in Malaysia and Thailand.

The smart #1, Pro-Net’s flagship model, is developed on Geely’s sustainable electric architecture and designed by Mercedes-Benz, symbolising a blend of cutting-edge technology and renowned automotive expertise. - April 4, 2024

https://focusmalaysia.my/cimb-commits-rm200-mil-funding-to-propel-protons-green-mobility-initiative/