Founder Group, a Malaysia based solar EPC provider, has acquired a 19.9% equity interest in Nichcom Go, the chargepoint operator behind the SpacePlus EV Charging network. Malaysia had 6,416 EV chargers installed as of 31 May 2025, falling short of the government's 10,000 unit target for 2025, while the National Energy Transition Roadmap now aims for 30,000 chargers by 2030. Battery EV sales in Malaysia rose 109% year on year in 2025, and unattributed research cited by Founder Group projects the Malaysian EV charging market will reach 539.4 million US dollars by 2030.
Why it matters: The deal signals solar EPC contractors are diversifying into charging infrastructure as Malaysia accelerates deployment to meet a 30,000 charger target by 2030. With only 6,416 units installed by May 2025 against a 10,000 target, the gap creates procurement opportunities for CPOs and their supply chain partners.