Tan Chong lands Perodua EV deal
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Malaysia's Tan Chong Motor Holdings Bhd has entered into a three-year contract with Perodua Sales Sdn Bhd to supply coating, painting, and assembly line services for the company's electric vehicle project in Serendah. Tan Chong Motor Assemblies Sdn Bhd, a subsidiary of Tan Chong, will handle electro-deposition coating, painting, assembly line rental, and associated support under the agreement.
Perodua Sales will be responsible for paying the service fees and rental charges to Tan Chong's subsidiary. The deal went into effect on June 1 and includes an initial three-year period, with an option to extend it for another two years, which must be done at least six months prior to the term's end. Perodua Sales is tasked with securing and maintaining all necessary permits, approvals, and regulatory compliance for the project, as well as ensuring proper maintenance and insurance of its equipment.
Tan Chong confirmed that the agreement will not impact its issued share capital. The project is expected to positively impact Tan Chong's revenue and earnings for the financial year ending December 31, 2026. The contract followed a letter of intent between Tan Chong's subsidiary, Tan Chong Motor Assemblies Sdn Bhd, and Perodua Sales, announced on November 14 last year.
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