![Careplus partners GoAuto to CKD Neta V in Negeri Sembilan by 2024 01]()
Careplus Group Berhad has announced its partnership with GoAuto Group Sdn Bhd to establish joint venture companies for the importation, distribution, assembly, and manufacturing hub of electric vehicles (EVs).
![Careplus partners GoAuto to CKD Neta V in Negeri Sembilan by 2024 02]()
The first joint venture with Go Auto is to import Neta brand EVs. This venture involved Careplus acquiring a 30 percent stake in Intro Synergy Sdn Bhd (ISSB), a subsidiary of Go Auto, through a share swap. ISSB's primary role is exclusive distribution of select Neta EV models in Malaysia as per the Exclusive Distribution Agreement with Hozon New Energy Automobile Co., Ltd.
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![Careplus partners GoAuto to CKD Neta V in Negeri Sembilan by 2024 01]()
A second joint venture was formed to create NexV Manufacturing Sdn Bhd (NMSB), with Careplus holding a 51 percent stake and Go Auto the remaining 49 percent. NexV Manufacturing's initial assembly capacity is 30,000 units annually, with 10,000 reserved for Neta and the rest open to potential partners.
![Careplus partners GoAuto to CKD Neta V in Negeri Sembilan by 2024 02]()
NexV Synergy Sdn Bhd is another joint venture exclusively responsible for Neta EV dealership in Negeri Sembilan and plans to extend its services to other passenger and commercial EV brands.
![Careplus partners GoAuto to CKD Neta V in Negeri Sembilan by 2024 03]()
Furthermore, MITI granted NMSB a Manufacturing License for Energy Efficient Vehicles (EEVs). The license allows the assembly of passenger vehicles, commercial vehicles, and electric motorcycles, subject to compliance with environmental and local authority regulations.
![Careplus partners GoAuto to CKD Neta V in Negeri Sembilan by 2024 04]()
Careplus plans to commence local assembly (CKD) operations by late 2024, initially focusing on assembling 10,000 Neta cars out of the 30,000-unit annual capacity. The project is estimated to cost approximately RM 230 million, with a mix of internal funding, expected to range between RM 60 million to RM 70 million, and bank loans covering the capital requirements.
Also read: Cheapest EV in Malaysia - Neta V launched, RM 100k, 95 PS/160 Nm, 380 km NEDC
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