VCI Global Signs Definitive Agreement to Acquire Lux-Motion, Expanding Into US$350 Billion Automotiv

Strategic Move Positions VCI Global's Fintech Division Among Tech Unicorns like Carsome and SoftBank-Backed Carro

KUALA LUMPUR, Malaysia, March 17, 2025 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global” or the “Company”), a leading AI infrastructure provider, has signed a definitive agreement, valued at approximately US$1.8 million, to acquire Datanex Asia Sdn Bhd (“Lux-Motion”), a high-growth Malaysian luxury supercar e-commerce platform. The acquisition marked a significant expansion into AI-driven automotive financing and blockchain-powered digital lending, further solidifying VCI Global's leadership innovation within the luxury auto sector.

As an AI-powered luxury supercar e-commerce platform, Lux-Motion is transforming high-end automotive services through advanced digital innovation. At the core of its technology, the LuxScore system leverages comprehensive data sources to provide accurate financial assessments and personalized luxury supercar recommendations. By integrating AI-driven risk evaluation with blockchain-backed transaction security, Lux-Motion ensures a seamless, intelligent marketplace that delivers highly tailored, efficient, and secure transactions for buyers and sellers.

Lux-Motion's platform offers:

• AI-Powered Instant Financing: Automated loan approvals and same-day disbursements.
• Lease-to-Own & Flexible Payment Options: Expands financing accessibility for luxury car buyers.
• Blockchain-Based Digital Ownership: Ensures secure, tokenized asset tracking for vehicle transactions.
• AI-Powered Vehicle Matching: Proprietary LuxScore algorithm optimizes financing and pricing options.

By integrating AI-powered risk assessment and blockchain-backed transaction security, Lux-Motion strengthens VCI Global's presence in the rapidly expanding digital automotive marketplace. With the global automotive e-commerce market projected to reach approximately US$343.13 billion by 2032 at a compound annual growth rate (CAGR) of 16.6%, VCI Global is well-positioned to capitalize on this growth by transforming high-value vehicle financing.

The acquisition of Lux-Motion not only accelerates VCI Global's expansion into AI-driven digital lending but also enhances its potential for strategic mergers, acquisitions, and partnerships. By leveraging Lux-Motion's AI-powered financing model, VCI Global reinforces its leadership in high-value automotive transactions, unlocking new revenue streams and increasing market valuation in the evolving digital lending landscape.

“Luxury car buyers expect efficiency, trust, and seamless financing. This acquisition is a strategic milestone that strengthens our position in AI-powered asset financing while laying the foundation for future expansion into high-value digital lending, enabling VCI Global to compete with major digital automotive platforms. By integrating AI-driven risk assessment, fintech-backed lending, and blockchain-powered ownership, we are building a scalable ecosystem that streamlines luxury car transactions—enhancing the customer experience, unlocking new revenue streams, increasing market valuation, and driving long-term value for our investors,” said Dato' Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

About Datanex Asia Sdn Bhd (Lux-Motion)

Lux-Motion is Malaysia's AI-powered luxury supercar e-commerce platform, transforming high-end automotive services through advanced digital innovation. The company provides a seamless, technology-driven approach to luxury car ownership, offering buyer-centric solutions and premium chartered car services tailored to the needs of high-net-worth clients. Its proprietary LuxScore system enhances transaction efficiency by providing data-driven financial assessments and personalized vehicle recommendations, ensuring a superior purchasing experience.

For more information, please visit https://lux-motion.com/. 

About VCI Global Limited

VCI Global is a diversified global holding company with a strategic focus on AI & Robotics, Fintech, Cybersecurity, Renewable Energy, and Capital Market Consultancy. With a strong presence in Asia, Europe, and the United States, VCI Global is committed to driving technological innovation, sustainable growth, and financial excellence across multiple industries.

For more information on the Company, please log on to https://v-capital.co/. 

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission (“SEC”). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

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