Malaysia-based glovemaker Careplus Group Berhad is partnering electric vehicle (EV) mobility firm GoAuto Group to set up an EV plant in Malaysia with gross development value (GDV) of the about MYR 600 million ringgit ($128 million).

Careplus said in a statement on Thursday that the duo are exploring areas related to the EV industry.

According to the statement, a collaboration has been agreed between the two parties in the importation and distribution of the NETA electric car, and assembly of multi-model new energy vehicles through a planned manufacturing and assembly plant in Kawasan Perindustrian Chembong, Rembau, Negeri Sembilan.

According to Go Auto Group Chairman SM Azli SM Nasimuddin Kamal, phase one of the project involves the development of an assembly plant, expected to begin in the first quarter of 2024.

Meanwhile, phases two and three will begin in 2026 and 2028 respectively, he said.

He also explained that the new plant will not only assemble vehicles with the NETA brand but is also open to other EV brands that intend to assemble locally when the plant is ready.

Careplus also on Thursday launched Careplus Mall which is established to provide EV networks with fast charging stations, TVET training, solar panel solutions for home and commercial use, and sports and entertainment infrastructure for the family.

Careplus Chief Executive Officer Lim Kwee Shyan said that the firm is now exploring potential business in green technology and renewable energy areas, including solar equipment and EVs.

According to him, Careplus Mall currently has a sales, service, spare parts and body repairs (4S) for EVs for the NETA brand, and equipment for solar panel solutions for home and commercial applications.

It also includes several relevant businesses, such as GENTARI that will install six fast charging station with capacities between 180-250kW, that is expected to be ready by the second quarter of 2024, he added.

Careplus is a firm involved in latex glove industry for more than 35 years.

To date, its production capacity reached 5.32 billion units per annum, with various glove types such as latex examination dan surgical gloves.

Today, the firm has four latex glove plants, all located in Negeri Sembilan.

Careplus was listed in Bursa Malaysia’s ACE Market on in December 2010. The firm transferred all company shares from ACE Market to the Bursa Securities Main Board in 2021.

In 2023, Careplus officially joined new businesses based on green and renewable technology, developed with business partners GoAuto Group.

Established in 2013, GoAuto’s core business centers on automotive products – where the company is actively involved in manufacturing, assembly, sales, distribution, after sales services and spare parts in various vehicle segments such as passenger vehicles, commercial vehicles, motorcycles, special vehicles, and EVs.

The GoAuto Group also supplies vehicles for government and GLC use.

The group is also an exclusive distributor of electric vehicles for passenger and commercial vehicle brands NETA, HIGER and YUTONG.

Malaysia’s Careplus diversifies its business to electric vehicles