Kuala Lumpur, 23 December 2024 - CIMB Group
Holdings Berhad (“CIMB” or the
“Group”) and clean energy solutions provider Gentari
Sdn Bhd (“Gentari”) via Gentari Green Mobility Sdn
Bhd have entered into a strategic Memorandum of Understanding
(“MoU”) to drive green mobility and value chain
decarbonisation across ASEAN. Through this collaboration, CIMB and
Gentari will offer a range of value-added services to encourage
the adoption of electric vehicles (“EV”) in
Malaysia. In addition, CIMB will deliver targeted financing
solutions to Gentari’s customers, facilitating their
decarbonisation efforts and fostering low carbon practices within
the sector, supporting national and regional climate ambitions.
Gurdip Singh Sidhu, Chief Executive Officer of CIMB
Malaysia and CIMB Bank Berhad said, “CIMB is pleased to be
partnering with Gentari in driving green mobility solutions and
value chain decarbonisation as part of our shared commitment to a
just transition in the region. This partnership signifies a major
milestone in CIMB’s broader commitment to achieving Net
Zero by 2050, while emphasising our dedication to environmental
stewardship at all levels, which include empowering individual
customers to make greener choices and supporting SMEs in their
decarbonisation efforts.”
“With
CIMB’s strong foundation in sustainable finance, we believe
we can offer solutions that not only drive the clean energy
transition but also create real, measurable impact. Together, we
will work towards practical and scalable initiatives that help
tackle climate challenges, while supporting national and regional
sustainability agendas,” he added.
Gentari
operates the largest licensed direct current (DC) charging network
in Malaysia, with over 175 DC charging points (CPs) out of close
to 1,000 charging points across Malaysia, Thailand, and India.
Additionally, it has deployed over 3,600 electric vehicles (EVs)
through its Vehicle-as-a-Service (VaaS) offerings across the
region. Through the Gentari Go app, users can access a network of
over 5,000 roaming chargers across the region via partnerships
with various charging point operators. Gentari is currently
offering selected CIMB customers 50% off at EV charging stations
in Malaysia via Gentari Go from now until 15 January 2025. The
promotion is valid for transactions of RM30 or more, up to 5 times
per customer or a total of 7,500 cumulative transactions.
Shah Yang Razalli, Deputy CEO of Gentari and CEO of
Gentari Green Mobility remarked, “This collaboration with
CIMB is a significant step towards Gentari’s goal of
becoming a leading green mobility partner in Asia Pacific,
enabling us to expand our network of stakeholders to make EV
adoption more affordable and accessible. At the same time,
CIMB's targeted financing solutions not only enable
Gentari’s partners to implement decarbonisation measures at
scale but are also an opportunity for businesses to optimise their
green energy ecosystem potential via the Gentari Go
platform.”
CIMB will play a pivotal role in
advancing sustainability adoption among small and medium sized
enterprises (“SMEs”) within Gentari’s value
chain, providing growth-oriented, green banking solutions that
enable these businesses to scale faster, contributing to the
national target of 10,000 public EV charging stations by 2030.
To
further strengthen support across Gentari’s value chain,
vendors will gain access to CIMB’s SMEBizReady value-based
financing for capital expenditure, working capital as well as
funding requirements for automation and digitalisation
initiatives. In addition, they can leverage CIMB’s
GreenBizReady™ programme for capacity building, and gain
access to complimentary tools and incentives such as
sustainability-linked financing rebates of up to 0.5%.
CIMB is committed to providing clients with a broad
range of sustainable finance solutions as guided by the
Group’s Green, Social, Sustainable Impact Products and
Services (“GSSIPS”) framework, an internal taxonomy
set by the Group to deliver impactful sustainable finance. Last
year, the Group tripled its sustainable finance target to RM100
billion by 2024, a substantial increase from its RM30 billion
target previously announced in 2021. To date, the Group has
surpassed its RM100 billion target ahead of schedule.
More
promotions and offerings will be introduced in the near future,
offering customers who own EV cars greater benefits and rewards.
For more information, please visit
www.cimb.com.my/ev.