Betamek terminates MoU with Krakatoa Technologies for development of EV battery management systems – paultan.org
Electronics manufacturing services provider Betamek has decided not to proceed with a collaboration with Singapore-based semiconductor company Krakatoa Technologies. Both companies signed a memorandum of understanding (MoU) in March this year to explore a potential partnership to develop a battery management system-on-a-chip for electric vehicles (EVs).
In a filing with Bursa Malaysia dated September 12, Betamek said the MoU termination notice was served on June 12 and required a three-month notice period, which came into effect on the day.
“After deliberation and consideration of the circumstances of the company, the board has decided not to proceed with the collaboration with Krakatoa and BESB (Betamek Electronics is a wholly-owned subsidiary of Betamek),” the company said in the filing.
BESB was incorporated in 1989 to manufacture car audio systems and made inroads in 1994 when it was appointed by Perodua to supply car audio systems for the first Kancil. Since then, it has been actively involved in automotive electronics product design and manufacturing, working closely with clients in Malaysia, Japan and Indonesia.
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