Meta Bright speeds up EV growth through tie-up with ChargeHere
This marks a significant step forward in Meta Bright's foray into the EV charging sector.
The strategic novation agreement transfers operational control and commercial benefits for the EV charging stations located at high-visibility properties, enabling the group to rapidly scale its presence in line with Malaysia's National Energy Transition Roadmap (NETR).
ChargeHere, operating under the ChargeSini brand, is Malaysia's leading charging point operator with a network of 935 EV charging points nationwide.
Through the novation, Meta Bright ChargeSini will take over complete management responsibilities including maintenance, operations, and revenue collection, building upon the foundation laid by its joint venture partner.
The transaction not only brings immediate commercial returns through service income and profit-sharing models but also realises the full intent of the joint venture announced earlier in July.
It accelerates Meta Bright's ability to replicate and roll out similar successful projects across Malaysia.
Meta Bright executive director of corporate and strategic planning Derek Phang Kiew Lim described the novation as a key tactical move that significantly shortens time-to-market in Malaysia's competitive EV landscape.
He said that instead of starting from the ground up, the company has (through this arrangement), instantly secured EV charging stations in high-traffic, strategic locations.
'This move reinforces Meta Bright's commitment to expanding its renewable energy business and firmly establishes the group as an active and credible player in the country's green mobility transition.
'Rather than a tentative entry, the company is accelerating its role in the sector, strengthening its base of recurring income and setting the stage for future growth,' he said.
Phang added that the novation represents a strategic evolution from the joint venture agreement with ChargeHere, further solidifying Meta Bright's ambitions in the charging point operator market.
Building on this momentum, Meta Bright is currently in advanced negotiations to secure the next phase of EV charging sites in key strategic locations.
Phang noted that the group's expanding operational track record supports a disciplined growth strategy and underpins its dual focus on enlarging its renewable energy portfolio while contributing meaningfully to Malaysia's green mobility agenda.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysian Reserve
11 hours ago
- Malaysian Reserve
Tesla's darkening outlook to test Robotaxi vision pushed by Musk
TESLA Inc.'s core car-making business is facing a deteriorating outlook, providing a major test of Chief Executive Officer Elon Musk's ability to lift the stock price with his vision of a self-driving future. The electric-vehicle maker is expected to post the sharpest drop in revenues in more than a decade when it reports earnings on Wednesday, as demand for Tesla products dries up. And with federal incentives meant to encourage EV sales set to disappear later this year, things are likely to get even more challenging in the coming months. That's piling pressure on Musk to push Tesla's robotaxi program, that began operating on a limited basis in Austin last month. It's increasingly seen as underpinning the value in the company's shares, which have rallied 50% from an April low. 'Tesla, more than any other large-cap stock, relies on investor confidence in the company's long-term vision of the future,' said Nicholas Colas, the co-founder of DataTrek Research, who spent more than a decade covering the auto industry as an analyst. Tesla's sales have suffered from an aging lineup and the backlash against Musk's role in US President Donald Trump's administration, where he was charged with drastically reducing government spending. The stock has taken a hit as well, down 31% from a December peak when Musk's proximity to Trump was seen as a boon for the company. Still, Tesla shares remain richly valued at 142 times projected profits, compared with 27 times for the Nasdaq 100 Index, reflecting a significant disconnect from the company's souring financial prospects. Wall Street has slashed 2025 profit estimates by 28% over the past three months, according to data compiled by Bloomberg. For the second quarter, analysts are projecting adjusted earnings of 42 cents a share on revenue of $22.6 billion, down 18% and 11%, respectively, from the same period a year ago. That would represent the biggest drop in quarterly sales since 2012. Tesla's auto manufacturing business, which generated 90% of the company's revenue in 2024 and contributed 94% of its gross margin, has also been hampered by a production pause to retool assembly lines for the redesigned Model Y and rising competition in China from local brands. Then there's Trump's signature tax bill, which will remove two key incentives for the EV industry. A $7,500 tax credit that applies to most American-made EVs will go away starting in September, as will a separate program that penalized traditional carmakers for failing to adhere to federal fuel economy standards. The sale of those credits generated $2.8 billion in revenue for Tesla last year. Tesla bulls, however, remain undeterred. Nearly half of the analysts covering the company recommend buying the stock, a share that hasn't changed since the beginning of the year. The robotaxi is the key reason for the optimism, with Musk predicting that hundreds of thousands of these vehicles will be on the road by late 2026. Long-term investors also point to other futuristic ambitions such as the humanoid robot called Optimus, and a faith that Musk can keep pushing the boundaries of innovation. Roughly 95% of Tesla's share price is tied to what the company might do in the future, according to the calculations of DataTrek's Colas. Compared to the rest of the so-called Magnificent Seven stocks, only Nvidia Corp. and Microsoft Corp. are close, at around 75%. Tesla is now aiming to bring its driver-less taxis to California and Arizona. Earlier this month, Musk said robotaxis could launch in the San Francisco Bay area 'probably in a month or two,' pending regulatory approvals. But the company faces major competition. Google parent Alphabet Inc.'s self-driving car unit Waymo already has been operating a similar service in Los Angeles, Austin, Phoenix and San Francisco. It also just began offering trips through Uber Technologies Inc.'s platform in Atlanta, with Miami and Washington expected next year. Separately, Uber is also teaming up with EV-maker Lucid Group Inc. and self-driving tech startup Nuro to launch a robotaxi fleet. It's this focus on long-term growth that makes Tesla the ultimate 'story' driven stock, said Joseph Spak, a UBS analyst. 'The Tesla story is about Musk,' said Joe Gilbert, portfolio manager at Integrity Asset Management. 'If he can give confidence to the market that he is re-focused on robotaxi and the brand, the stock can work.' –BLOOMBERG
The Sun
12 hours ago
- The Sun
Domestic demand will remain key driver of Malaysia's economic growth: Amro
SINGAPORE: Malaysia's economy continues to demonstrate resilience in 2025, underpinned by strong domestic demand, robust investment activity and favourable labour market conditions, despite pressures from global trade tensions and policy uncertainty. Asean+3 Macroeconomic Research Office (Amro) chief economist Dong He stated that if the United States' reciprocal tariffs take effect from Aug 1 at the current rate of 25%, Malaysia's gross domestic product growth could fall from 5.1% in 2024 to 4.2% in 2025, and further to 3.8% in 2026. 'This reflects the direct impact on Malaysia's exports to the US, the indirect effects through intermediate goods sent to other countries destined for the US, and the broader slowdown in global trade growth. Nonetheless, domestic demand will remain the key driver of growth,' he told Bernama. He noted that front-loaded exports had supported economic momentum earlier in the year. At the same time, key sectors such as information and communication technology and manufacturing remain active, bolstered by data centre investments and industrial diversification. However, the outlook for the second half of the year and beyond remains clouded by external headwinds, particularly the outcome of ongoing US trade negotiations. To maintain momentum, He said Malaysia's policy priorities should include sustained diplomatic engagement with the US on trade issues, diversification of export markets, and greater emphasis on the services sector, which is typically less exposed to protectionist measures. He added that accelerating structural reforms remains essential, especially through the implementation of the New Industrial Master Plan 2030 and the National Energy Transition Roadmap. 'Regionally, the Johor-Singapore Special Economic Zone (JS-SEZ) could emerge as a strategic advantage, catalysing cross-border investment and innovation. 'US tariffs could enhance the JS-SEZ's appeal, particularly if Singapore faces much lower tariffs than countries like Vietnam and Mexico,' He said. He added that the strong commitment to collaboration demonstrated by both the Singaporean and Malaysian governments boosts confidence in the zone's prospects, particularly in a volatile global environment shaped by rising protectionism. 'Together, the zone's economic value proposition and political backing can attract foreign investors looking to establish a base in Asean,' He said. He noted that for the JS-SEZ to succeed, several challenges must be tackled, including cross-border movement of people and goods, infrastructure in southern Johor, wage gaps, labour shortages, and policy continuity, among others. 'If successful, the JS-SEZ can serve as a blueprint for future regional integration initiatives. For example, it could inspire similar cross-border economic zones between Thailand and Laos or Vietnam and Cambodia,' he said. – Bernama
The Sun
16 hours ago
- The Sun
Proton e.MAS 7 Continues Reign as Malaysia's Top-Selling EV
PROTON New Energy Technology Sdn Bhd (PRO-NET), a subsidiary of Proton, has reaffirmed its dominance in Malaysia's electric vehicle sector with the continued success of the Proton 7. The all-electric SUV maintained its position as the best-selling EV in the country for the sixth month running, having recorded 4,003 cumulative deliveries in the first half of 2025. This performance accounts for a commanding 23.4% share of the national EV market. The consistent domestic uptake of the 7 has been complemented by a growing international footprint. PRO-NET confirmed that 250 units of the model have been exported to emerging markets, including its latest entry into Trinidad and Tobago. These developments point to the 7's broader appeal beyond Malaysia's borders, reinforcing its role as a viable global contender in the EV space. The model's sustained popularity has been attributed to Proton's steadfast pricing strategy across both 7 variants, underlining its long-term value for consumers. Instead of engaging in aggressive discounting tactics, the company has prioritised customer trust and satisfaction. In preparing the 7 for Malaysian roads, Proton undertook extensive development efforts. The car's engineering programme spanned more than 700,000 man-hours and over 100,000 kilometres of real-world testing. These efforts were critical in fine-tuning the EV for local conditions, from road surfaces to climate patterns. Proton's broader commitment to environmental goals was also evident, with the 7 playing a central role in aligning with Malaysia's target of net-zero carbon emissions by 2050. PRO-NET's groundwork extended far beyond product development. The company launched a nationwide EV dealership network nearly a year before the 7's commercial debut. Each of the 35 dedicated outlets received an investment exceeding RM2 million, resulting in state-of-the-art facilities equipped with EV-specific tools, service bays, and DC charging stations. This expansive network has also generated over 700 jobs, contributing to both the local economy and technical workforce development. To support its retail partners, PRO-NET continues to offer a structured support system that includes dealership launch assistance, investment incentives, and performance-based recognition programmes. These measures are designed to ensure consistent service quality and a superior customer experience across the board. Efforts to bolster the EV ecosystem have also advanced significantly. PRO-NET's collaboration with various charging point operators has expanded the Live Integrated Charging Map to encompass more than 3,300 charging stations nationwide. This includes over 1,100 charging points installed at 390 high-rise residential developments, a move facilitated by an earlier Memorandum of Understanding signed with Gentari in 2022. Today, the network includes 10 major charging operators such as JomCharge, Shell Recharge, DC Handal, and Charge N Go, among others. Internally, PRO-NET has grown from a small startup team in 2022 to a fully-formed organisation with divisions dedicated to sales, marketing, product development, and EV infrastructure. This structural expansion has played a pivotal role in sustaining the momentum behind the 7, positioning PRO-NET at the forefront of Malaysia's transition to cleaner mobility. In a bid to encourage more Malaysians to adopt electric mobility, PRO-NET recently introduced the Power Exchange programme. The initiative allows customers to trade in any vehicle—regardless of brand or age—for an RM5,000 bonus towards the purchase of an 7. Vehicles submitted for trade-in will undergo inspection and require approval before being accepted into the programme. With a strong product, robust infrastructure, and expanding international reach, the Proton 7 has firmly established itself as a symbol of Malaysia's electric future—delivering not only innovation and performance but also a credible step toward achieving a more sustainable automotive landscape.
