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.