TA Win Holdings Bhd, a leading Malaysian manufacturer of copper products, has joined the fray of companies venturing into unfamiliar territories vis-à-vis its entry into the global electric vehicle (EV) market.
The follows the group’s appointment of Cyprium Wire Technology Sdn Bhd (CWT), its subsidiary, as a global vendor in international technology and mobility company Aptiv PLC’s global automotive supply chain.
The agreement will see CWT utilising its innovative electron beam irradiation technology to manufacture cables and automotive components for Aptiv.
Having attained the IATF 16949:2016 certification in January 2021, CWT is certified by the International Automotive Task Force (IATF) for demonstrating its international standard of technical specifications for automotive industry quality management systems.
“This appointment is testament to CWT’s technical capabilities in the global automotive supply chain as our innovative technology positions us well to cater for the growing global EV market,” commented Ta Win’s group managing director Datuk Seri Ngu Tieng Ung.
“By enabling us to develop a strong procurement relationship with Aptiv, this opens up vast prospects for CWT to tap into Aptiv’s global business presence across 44 countries with clientele that include 23 of the 25 largest automotive original equipment manufacturers in the world, including BMW, General Motors (GM), Stellantis N.V., Toyota, Tesla and Volkswagen (VW).”
Moreover, the procurement of signal and power solutions from CWT will enable Aptiv to increase localisation of its business activities in Malaysia’s automotive supply chain, added Ngu.
A global company listed on the New York Stock Exchange, Aptiv currently operates 124 major manufacturing facilities and 12 major technical centres through a regional service model to efficiently deliver its products in the global market.
Aptiv’s signal and power solutions segment provides complete design, manufacture and assembly of the vehicle’s electrical architecture, including engineered component products, connectors, wiring assemblies and harnesses, cable management, electrical centres and hybrid high voltage and safety distribution systems.
At the close of today’s trading, Ta Win was up 3.5 sen or 8.86% at 43 sen with 86.38 million shares traded, thus valuing the company at RM326 mil. – March 30, 2021
