DRB-HICOM'S UNIT FORMS JV TO ENHANCE TECH KNOW-HOW
KUALA LUMPUR, June 12 (Bernama) -- DRB-Hicom Bhd’s subsidiary, Proton Edar Sdn Bhd (PESB), is proposing to form a joint venture company (JVCO) to enhance its knowledge in automotive-related high digital technology.
In a filing with Bursa Malaysia today, DRB-Hicom said PESB had entered into an agreement to form the JVCO with Altel Communications Sdn Bhd and Ecarx (Hubei) Technology Co Ltd.
It said the JVCO would provide research and development services, vehicle connectivity sales and services, digital cockpit, safety, autonomous vehicle and Internet of Things (IoT) technology-related products.
PESB is an indirect wholly-owned subsidiary of Proton Holdings Bhd (PHB), which in turn is 50.1 per cent-owned by DRB-HICOM.
DRB-Hicom said the JVCO would allow the group to gain technological know-how in high digital technology product and services related to the automotive industry.
“It also creates an opportunity for the PHB group to establish a car connectivity R&D centre in Malaysia for future product enhancements to suit local and regional ecosystem,” it said.
DRB-Hicom said barring any unforeseen circumstances, the proposed JV was expected to contribute positively to the future earnings of the group.
-- BERNAMA
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