Smart mobility provider, ACO Tech, has formalized a Memorandum of Collaboration (MoC) with Geno and the Malaysia Automotive, Robotics & IoT Institute (MARii) to explore the use of blockchain solutions for Malaysia’s electric vehicle (EV) infrastructure.

Among the blockchain solutions being explored are smart contracts, digital traceability management of supply chain, tokenomics solutions and privacy protection technologies to
complement ACO Tech’s solutions for E-Mobility Service Platform (EMSP), the trio said in a statement on Monday.

According to the statement, this initiative can ensure data privacy and ownership, enable data monetization, and ultimately benefit strategic investors through long-term sustainable investments.

The EMSP is the foundational layer of the government’s overarching Connected Mobility Vision, which will help accelerate development of EV infrastructure in the country.

The collaborative expertise and capabilities by ACO Tech, Geno, and MARii will effectively address concerns associated with owning an EV such as the scarcity of charging ports and
inconsistent charging rates.

The utilization of blockchain technology solution empowers EV manufacturers, service providers and owners/users to engage more interactively through a tamper-proof decentralized ledger system.

This approach aims to reduce costs, enhance user experience and confidence, and establish seamless tracking and maintenance records.

Additionally, it facilitates peer-to-peer energy and charger-sharing, ensuring transparency throughout the entire lifecycle of products and services.

This groundbreaking alliance is in line with the New Industrial Master Plan (NIMP) 2030, as well as the National Energy Transition Roadmap (NETR).

The government aims to achieve 20 percent of electrified vehicles (xEV) by 2030, 50 percent by 2040 and 80 percent by 2050.

This agreement paves the way for the sector to become the first to leverage blockchain technology on an industry-wide scale in Malaysia.

It will also assist the government in realizing the National Automotive Policy (NAP) 2020 by laying a solid foundation for the industry to be able to scale through development of Next Generation Vehicles (NxGV), including EVs.

It will also help in creating a national EV-ready infrastructure through mobility as a service (MaaS) and
blockchain as a service (BaaS).

“We are excited at the growth prospects of the mobility sector in Malaysia thanks to the government’s support and progressive national policies,” ACO Tech Chief Executive Officer Li Pu said.

“As a leading smart mobility solutions provider, ACO Tech is ready to share our knowledge and expertise as well as support all stakeholders in achieving national goals,

“We are confident collaborations such as ours with MARii and Geno are the way forward in accelerating and expediting a comprehensive and conducive EV ecosystem for Malaysia, with an emphasis on security. By addressing challenges and capitalizing on opportunities, Malaysia can position itself as a leader in the EV revolution in Southeast Asia,” he added.

MARii Chief Executive Officer Azrul Reza Aziz expressed their commitment, stating their collaboration with ACO Tech, a joint venture between PROTON, ECARX and Altel Communications, and Geno, marks a significant step forward in shaping the future of Malaysia’s EV ecosystem.

“By exploring blockchain solutions, we are not only addressing current challenges in the EV sector but also laying the groundwork for a secure and scalable infrastructure aligned with the National Automotive Policy 2020,

“By synergizing our capabilities, we aspire to set new industry standards, promoting sustainable practices and user-centric innovations,” he added.

Geno Chief Executive Officer Zhang Yi Ian also said this initiative signifies the first industrial-grade application of a blockchain solution.

“The primary goal is to facilitate a transformative shift for participating enterprises towards a service-focused model,

“This strategic move is aimed at enhancing engagement with end-user customers, enabling earlier, deeper, and more enduring interactions,” he added.

ACO Tech, Geno, and MARii said they are committed to the active exploration of viable technologies towards the national Connected Mobility vision.

ACO Tech was established in 2019 as a joint venture between PROTON, ECARX and Altel Communications.

The Malaysian company is a smart mobility provider in the Southeast Asian region.

Geno was established in 2022, headquarter in United Kingdom, focusing in the business of blockchain-as-a-service (BaaS), providing enterprise solution applying blockchain or distributed ledge technology (DLT) for industrial enterprises to adopt an innovative solution to be ensured with continuous competitiveness.

MARii is an agency under the Ministry of Investment, Trade and Industry (MITI) that functions to enhance technology, human capital, supply chain, market outreach and aftersales capabilities of all automotive stakeholders and ecosystems.

The agency serves to spur the development of smart systems through the implementation of digital technologies with a special focus on big data analytics and artificial intelligence, including automotive and connected mobility ecosystem.

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