VCI Global Signs Definitive Agreement to Acquire Lux-Motion, Expanding Into US$350 Billion Automotive E-Commerce Market

Core Insights - VCI Global Limited has signed a definitive agreement to acquire Datanex Asia Sdn Bhd (Lux-Motion) for approximately US$1.8 million, marking a strategic expansion into AI-driven automotive financing and blockchain-powered digital lending [1][4] - Lux-Motion is an AI-powered luxury supercar e-commerce platform that enhances high-end automotive services through advanced digital innovation, including its proprietary LuxScore system for financial assessments and personalized recommendations [2][6] - The global automotive e-commerce market is projected to reach approximately US$343.13 billion by 2032, with a compound annual growth rate (CAGR) of 16.6%, positioning VCI Global to capitalize on this growth [3] Company Strategy - The acquisition of Lux-Motion accelerates VCI Global's expansion into AI-driven digital lending and enhances its potential for strategic mergers, acquisitions, and partnerships [4] - By leveraging Lux-Motion's AI-powered financing model, VCI Global aims to reinforce its leadership in high-value automotive transactions, unlocking new revenue streams and increasing market valuation [5] - The company is focused on building a scalable ecosystem that streamlines luxury car transactions, enhancing customer experience and driving long-term value for investors [5] Technological Innovation - Lux-Motion's platform integrates AI-powered risk assessment and blockchain-backed transaction security, strengthening VCI Global's presence in the digital automotive marketplace [3][9] - The platform offers features such as automated loan approvals, flexible payment options, and secure, tokenized asset tracking for vehicle transactions [9]