Malaysia’s clean energy solutions provider Gentari has teamed up with the local bank CIMB Group Holdings Berhad to promote green mobility and decarbonise the value chain across the ASEAN region.
CIMB and Gentari Green Mobility signed a strategic Memorandum of Understanding (“MoU”) to encourage the adoption of electric vehicles (“EVs”) in Malaysia and offer tailored financing to Gentari’s customers, supporting decarbonization and regional climate goals.
Within the framework of the new collaboration, CIMB and Gentari will jointly offer a range of value-added services, growth-oriented, green banking solutions, value-based financing, and sustainability-linked financing rebates to the small and medium sized enterprises (“SMEs”) within Gentari’s value chain.
Gentari’s value chain focuses on clean energy and sustainability solutions, covering areas such as renewable energy generation (solar, wind, and hydrogen), green mobility (electric vehicle infrastructure and services), and the decarbonization of industrial and commercial operations.
It encompasses a wide range of enterprises involved in clean energy and sustainability, including companies that develop and operate solar, wind, and hydrogen energy projects supplying clean energy to Gentari; enterprises involved in manufacturing, deploying, and maintaining electric vehicle (EV) infrastructure, such as charging stations, fleet operators, and EV manufacturers; providers of innovative solutions for energy storage, smart grids, and hydrogen technology; businesses responsible for the transportation and delivery of renewable energy components; enterprises transitioning to low-carbon operations by integrating Gentari’s renewable energy and mobility solutions; and financial institutions that support such businesses with necessary funding.
Gentari operates Malaysia’s largest licensed DC charging network, with over 175 DC charging points and nearly 1,000 across Malaysia, Thailand, and India. It has deployed 3,600+ EVs through its Vehicle-as-a-Service (VaaS) offerings and provides access to 5,000+ roaming chargers via the Gentari Go app.
“This collaboration with CIMB is a significant step towards Gentari’s goal of becoming a leading green mobility partner in Asia Pacific, enabling us to expand our 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 are also an opportunity for businesses to optimise their green energy ecosystem potential via the Gentari Go platform.”
Shah Yang Razalli, Deputy CEO of Gentari and CEO of Gentari Green Mobility
Until January 15, 2025, CIMB customers will get their benefits from cooperation in the form of 50% off EV charging in Malaysia through Gentari Go for transactions over RM30, limited to 5 uses per customer or 7,500 total transactions.
Malaysia is actively advancing green mobility solutions to promote sustainable transportation and reduce carbon emissions. Local government has set ambitious targets to increase EV adoption, aiming for EVs and hybrids to constitute 20% of new car sales by 2030. Besides, Malaysia’s National Energy Transition Roadmap (NETR) aims at achieving 80% EV adoption and 90% local EV manufacturing by 2050, alongside other goals.
Companies like Gentari are enhancing the Malaysian EV ecosystem by operating extensive charging networks and deploying electric vehicles through Vehicle-as-a-Service (VaaS) offerings.
