Summary: Electronics manufacturing services provider Betamek has announced the termination of its memorandum of understanding (MoU) with semiconductor company Krakatoa Technologies. The decision was reached after careful consideration by Betamek’s board, and it marks a shift in the company’s strategy for the development of electric vehicle battery management systems.
Betamek and Krakatoa Technologies had signed the MoU in March of this year with the aim of exploring the development of a battery management system-on-a-chip for electric vehicles. However, Betamek decided not to proceed with the collaboration and terminated the agreement on June 12. The termination notice took effect immediately and the three-month notice period began.
Betamek Electronics, a wholly-owned subsidiary of Betamek, has been involved in the manufacturing of car audio systems since 1989. The company expanded its presence in 1994 by supplying car audio systems for the first Kancil, after being appointed by Perodua. Over the years, Betamek Electronics has actively engaged in the design and manufacturing of automotive electronics, working closely with clients in Malaysia, Japan, and Indonesia.
With the termination of the collaboration with Krakatoa Technologies, Betamek must now decide on its future approach to the development of EV battery management systems. It is unclear whether the company will pursue other partnerships in this field or focus on internal research and development.
Sources:
– Bursa Malaysia filing by Betamek on September 12, 2023