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PETALING JAYA: Techna-X Bhd via its subsidiary HK Aerospace Beidou New Energy Industry Technology Co Ltd, is venturing into the electric vehicle (EV) market through a joint venture with industry experts in electric mobility technologies.

It today signed a joint venture agreement with technology firm in electrical hypercars domain Rimac Automobili’s former co-founders Monika Mikac and Igor Pongrac as well as materials specialist Nordin Catic and electronic systems design expert Benjamin Bozic.

The joint venture company has been registered as E-Rex d.o.o and the group will own 51% equity while the cofounders will hold the remaining 49% stake.

The group said E-Rex will initially focus on the development of a low voltage powertrain suitable for low voltage electric vehicle passenger cars and commercial vehicles including the development of low voltage drive systems components suitable for small vehicle of low speed and power, industrial machines, forklifts, small boats and other commercial applications.

Techna-X executive director Datuk Jared Lim is excited to partner with the co-founders whom he considered pioneers in the EV industry due to their achievement with Rimac Automobili in the supercar EV space.

“We will be able to leverage on their experience and expertise to revolutionise the industry by developing a low voltage system. There will be tremendous synergies with our ultra capacitor and super battery technologies,” he said in a statement.

Lim elaborated that together, the joint venture will develop systems for electric mobility that are competitive in price and performance to existing solutions in the market as well as other solutions that are suitable for commercial applications including battery management system, big data and advanced driver assistant systems.

“This powertrain will be competitive in price and performance compared to vehicles powered by internal combustion engines.”

The group pointed out the EV market today is growing rapidly at a compound annual growth rate of 21.1% CAGR and it is projected to reach over 26 million units by 2030.

“E-Rex will be a key player in providing electric mobility solutions and aims to capture the EV market in Asia,” said Lim.

Igor Pongrac

Monika Mikac

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