Malaysian electric cable manufacturer Ta Win Holdings is expanding into the electric vehicle (EV) supply chain following the launch of new automotive products including wiring, connectors and other related products.
Ta Win, known as a manufacturer of copper wires and rods, said its recent fundraising activities, including a rights issue, have generated the required resources to enter the global electric vehicle supply chain.
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Managing director Datuk Seri Ngu Tieng Ung said the company had invested heavily in this new business segment and was very upbeat about its growth prospects as a supplier of EV electrical parts.
The group said its Cyprium Wire Technology (CWT) subsidiary was recently added to the global vendor list of Aptiv, an automotive electrical and electronic systems supplier based in Ireland and previously part of Delphi Automotive.
EV sales in Malaysia represent a negligible proportion of total vehicle sales in the country with the government yet to implement new incentives to encourage the segment to grow.
Ta Win clearly is focused on overseas sales for growth in the short term.
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By GlobalData
