Electronics manufacturing services provider Betamek has announced the termination of its memorandum of understanding (MoU) with semiconductor company Krakatoa Technologies. The two companies had signed the MoU in March of this year to explore the development of a battery management system-on-a-chip for electric vehicles (EVs).
In a filing made with Bursa Malaysia on September 12, Betamek stated that the termination notice for the MoU was served on June 12, and the three-month notice period took effect on that date. After careful consideration, Betamek’s board decided not to proceed with the collaboration with Krakatoa and its subsidiary, Betamek Electronics.
Betamek Electronics, a wholly-owned subsidiary of Betamek, has been involved in the manufacturing of car audio systems since 1989. It expanded its presence in 1994 when it was appointed by Perodua to supply car audio systems for the first Kancil. Since then, the company has been actively engaged in the design and manufacturing of automotive electronics, working closely with clients in Malaysia, Japan, and Indonesia.
This termination of the collaboration marks a shift in Betamek’s strategy for the development of EV battery management systems. It remains to be seen if the company will explore other potential partnerships or focus on internal research and development to achieve its goals in this field.
Sources:
– Bursa Malaysia filing by Betamek on September 12, 2023