MOL and Pyxis ink agreement to explore possible joint venture

The agreement provides the guidelines for collaboration.

MOL Southeast Asia and Oceania (MOLAO) and Pyxis have agreed to explore the feasibility of establishing a joint venture company.

In a statement, MOLAO said the heads of agreement provides a framework for collaboration during the study phase but does not constitute a binding commitment to form the joint venture.

This agreement builds on the memorandum of understanding signed in October 2023. Under this agreement, the parties aim to collaborate on joint development and marketing of the electric vessels (EV) business in the Singapore region, as well as marketing for the expansion of EV's introduction in Japan.