Driving Green Economy Forward: ABA Bank Partners With ZO Motors (Cambodia)
ABA Bank, Cambodia's largest commercial bank and leading digital finance provider, entered into a strategic partnership through a Memorandum of Understanding (MoU) with ZO Motors (Cambodia), a Japanese manufacturer and distributor of zero-emission commercial trucks and electric charging stations.
This partnership aims to provide ZO Motors (Cambodia) with a comprehensive suite of financial services, including dedicated Chinese and Japanese-speaking relationship managers, payroll service for office staff and factory workers, cash and liquidity management services, and others. ABA will also integrate its KHQR payment system on charging station screens of ZO Motors (Cambodia) nationwide to facilitate smooth and seamless transactions.
Moreover, ABA Bank will support ZO Motors (Cambodia), its suppliers, and customers with credit and refinancing facilities for further business growth where needed.
The MoU signing ceremony was held on 5 December 2024, with the attendance of ABA's Chief Executive Officer, Askhat Azhikhanov, and ZO Motors (Cambodia)'s Chief Executive Officer, Zhao Wenbo, and their respective teams at the ABA Bank Head Office.
By utilising the Bank's financial solutions, ZO Motors (Cambodia) can boost its production and distribution of electric commercial trucks, driving the transition from fuel-based vehicles to electric technology and advancing the green economy in Cambodia.
The partnership addresses the growing demand for clean energy transportation and underscores both parties' commitment to supporting sustainable initiatives and boosting the green finance sector.
"At ABA Bank, we are excited to partner with forward-thinking organizations like ZO Motors (Cambodia), whose commitment to manufacturing zero-emission commercial vehicles demonstrates innovation and environmental responsibility," stated Askhat Azhikhanov, ABA Bank's CEO.
"Our partnership with ZO Motors (Cambodia) represents more than a business agreement; it is a shared commitment to shaping a sustainable future. We believe this collaboration will benefit our customers and contribute to the nation's environmental goals," he concluded.
"In the green energy sector, ZO Motors (Cambodia) is steadfast in its mission to lead Cambodia's transformation toward sustainability. ZO Motors (Cambodia) has launched the ‘100 Stations, 1,000 Chargers' infrastructure initiative. Within the next two years, we aim to achieve comprehensive coverage of charging facilities across Cambodia's major transportation networks and key cities," mentioned Zhao Wenbo, ZO Motor (Cambodia)'s CEO.
"This partnership embodies trust, mutual benefit, and shared ambition. ABA Bank's expertise and forward-thinking approach align seamlessly with vision of ZO Motors (Cambodia). Together, we will explore new strategies for financial growth and create sustainable, scalable business models for the future," Zhao continued.
About ZO Motors (Cambodia)
ZO Motors, Cambodia’s first enterprise to assemble and distribute electric commercial vehicles, leads in innovative and sustainable transportation solutions. Leveraging advanced technologies like intelligent connectivity and partnering with global supply chains, the company sets new industry standards in quality and efficiency.
Through its “100 Stations, 1,000 Chargers” initiative, ZO Motors (Cambodia) is establishing nationwide charging infrastructure to drive Cambodia’s green energy transition.
This press release was supplied.