Chinese high-tech firm IAT forges partnership with Malaysian firm Sunsuria Berhad on EV dev.

A customer takes a test drive of an Ora Good Cat electric vehicle in Kuala Lumpur, Malaysia, Feb. 17, 2023. (Photo by Chong Voon Chung/Xinhua)

Chinese high-tech firm IAT Automobile Technology Co., Ltd. (IAT, 300825.SZ) announced that it inked a memorandum of understanding with Malaysian company Sunsuria Berhad on electric vehicles, reported China Securities News Monday.

The two sides plan to invest in Malaysia, carrying out research and development and innovation in electric vehicles and related product fields and creating Malaysia's independent-brand electric vehicles.

The two companies will also jointly establish an automotive design and innovation center, forming a research and development center and operation base integrating automotive design, manufacturing and marketing, cutting-edge technology research, and talent cultivation to expand into Malaysia, other countries in Southeast Asia and more overseas markets.