DSONIC (5216) - Datasonic expands into electric vehicle segment
DATASONIC GROUP BERHAD DSONIC (5216)
PETALING JAYA: Datasonic Group Bhd is venturing into the electric vehicle business via the acquisition of a 30% stake in Electric Vehicle Automotive (M) Sdn Bhd (EVAM) for RM30,000.
In a filing with the stock exchange, Datasonic, which is mainly involved in ICT solutions, said the acquisition will enable the group to to expand its businesses and participate in the electric vehicle project to be undertaken by EVAM.
It is buying the 30% equity interest from Saw Puay Ling, while the balance 70% is held by Woo Kok Boon.
EVAM has yet to commence its operations, but is to venture intended principal activities to manufacture automobile and various vehicles and spare parts.
EVAM is planning to undertake development of electric vehicle explicitly designed for tropical megacities in Malaysia.
However, at this juncture, EVAM has yet to finalise the details of the development, expected commencement or completion of the development, estimated financial commitment and estimated profits to be generated.
"Currently, EVAM is working on the details of the transfer of technology and know-how from foreign expertise into Malaysia. With the technology and the existing research and development prototype unit, EVAM will embark on developing the commercial prototype for commercialisation purposes," Datasonic said.
- The Sun Daily, September 29, 2014
DATASONIC GROUP BERHAD DSONIC (5216)
PETALING JAYA: Datasonic Group Bhd is venturing into the electric vehicle business via the acquisition of a 30% stake in Electric Vehicle Automotive (M) Sdn Bhd (EVAM) for RM30,000.
In a filing with the stock exchange, Datasonic, which is mainly involved in ICT solutions, said the acquisition will enable the group to to expand its businesses and participate in the electric vehicle project to be undertaken by EVAM.
It is buying the 30% equity interest from Saw Puay Ling, while the balance 70% is held by Woo Kok Boon.
EVAM has yet to commence its operations, but is to venture intended principal activities to manufacture automobile and various vehicles and spare parts.
EVAM is planning to undertake development of electric vehicle explicitly designed for tropical megacities in Malaysia.
However, at this juncture, EVAM has yet to finalise the details of the development, expected commencement or completion of the development, estimated financial commitment and estimated profits to be generated.
"Currently, EVAM is working on the details of the transfer of technology and know-how from foreign expertise into Malaysia. With the technology and the existing research and development prototype unit, EVAM will embark on developing the commercial prototype for commercialisation purposes," Datasonic said.
- The Sun Daily, September 29, 2014
