KUALA LUMPUR: Artroniq Bhd has signed a distribution agreement with PT Terang Dunia Internusa, parent company of Indonesia's United Motors.
The agreement is signed through Artroniq's wholly-owned Artroniq Itech Sdn Bhd to drive both companies within the electric vehicle (EV) market.
The collaboration also aims to enhance the regional presence of both companies within the Asean economic community.
Under the agreement, Artronic Itech was appointed by PT Terang as the exclusive distributor of its EVs in Malaysia.
The EVs will be shipped in a completely knocked down (CKD) firm and assembled at Artronic Itech's factory in Malaysia.
Artroniq chief financial officer Marcus Chin Choon Wei said the distribution agreement marked a milestone for the company in pursuit of excellence within the sustainable transportation and technological innovation sector.
"We are committed to not only meeting but exceeding the evolving needs of our customers and partners. This agreement perfectly aligns with our core values of sustainability, quality, and progress.
"It fortifies our position as a key player in the Asean region's electric mobility sector and underscores our unwavering dedication to reducing environmental impact while driving progress," he said.
PT Terang said Artroniq dedication to innovation and sustainability aligned with the company's strategic vision.
United Motors has been an industrial stalwart in Indonesia since its inception in 1971.
Transitioning from a spare parts importer to an electric mobility pioneer, the company has launched a diverse line of electric motor products under the United E-Motor brand.
As at Sept 11, the share price of Artroniq stood at 82 sen for a market capitalisation of RM323 million.
