Strategic collaboration aims to make EV ownership more accessible as Malaysia’s electric vehicle market continues to gain momentum
KUALA LUMPUR — Public Bank and new energy vehicle brand iCAUR have joined forces in a strategic collaboration aimed at encouraging greater adoption of electric vehicles (EVs) in Malaysia, as the country’s transition towards greener mobility continues to gather pace.
The partnership is anchored by Public Bank’s exclusive “Go Green with Green Vehicle Financing – Paint the Town Green” campaign, designed to make green vehicle ownership more accessible and rewarding for Malaysian motorists.
The collaboration comes against a backdrop of strong growth in Malaysia’s EV market. EV sales more than doubled during the first half of 2026, increasing 106% year-on-year from 12,733 units to 26,192 units.
The Malaysian Automotive Association (MAA) has also raised its forecast for xEV sales — covering plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs) — to 120,000 units, equivalent to approximately 15% of total industry volume.
For iCAUR, the partnership provides another avenue to support this growing appetite for electrified mobility through its range of distinctive electric SUVs.
Operating under the Chery Group, iCAUR has positioned itself as a new energy vehicle brand focused on combining electric mobility with distinctive, lifestyle-oriented design. Its current range includes the iCAUR 03 and iCAUR V23, both featuring a boxy, retro-inspired aesthetic aimed at drivers looking for something beyond conventional EV styling.
Commenting on the collaboration, Tan Sri Dato’ Sri (Dr) Tay Ah Lek, Managing Director and Chief Executive Officer of Public Bank, said the bank was pleased to work with iCAUR to support the growing adoption of EVs in Malaysia.
“As Malaysians increasingly embrace greener mobility solutions, we remain committed to making EV ownership more accessible through financing solutions that support our customers’ evolving needs.”
He added that the collaboration reflects Public Bank’s broader commitment to supporting Malaysia’s green transition and encouraging more Malaysians to make sustainable mobility choices.
Mr. Men Lin Bo, Executive Vice President of Chery Corporate Malaysia, said the partnership reflects iCAUR’s philosophy of making electric mobility more engaging and accessible.
“At iCAUR, we believe electric mobility should be adventurous, stylish, and fun.”
He highlighted the brand’s “Born to Play” philosophy, with models such as the iCAUR 03 and V23 designed to express the identity of modern drivers.
“Partnering with Public Bank allows us to help every Malaysian take the wheel and literally ‘Paint the Town Green’,” he added.
Under the “Go Green with Green Vehicle Financing – Paint the Town Green” campaign, eligible customers can enjoy exclusive financing benefits when financing selected green vehicles through Public Bank.
The collaboration further strengthens Public Bank’s efforts in sustainable financing, while giving prospective EV buyers another financing avenue as electrified vehicles become an increasingly visible part of Malaysia’s automotive landscape.
With EV sales continuing to rise and consumer choices expanding beyond traditional petrol-powered vehicles, collaborations between financial institutions and new energy vehicle brands could play an increasingly important role in lowering barriers to EV ownership.
For iCAUR, meanwhile, the partnership adds another dimension to its “Born to Play” approach — bringing together electric mobility, distinctive design and lifestyle appeal as Malaysia’s next generation of motorists increasingly looks towards greener ways to move.
