Malaysia commits to attracting investments in EV

Malaysia commits to attracting investments in EV

15 Feb 2023

Malaysia is committed to attracting investments in the electric vehicle (EV) industry and achieving the national target of making electrified vehicles, including hybrid (xEV) account for 15 per cent of the total industry volume (TIV) by 2030.

International Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the country is set to achieve the target of making xEVs 38 per cent of the local TIV by 2040.

“In terms of charging infrastructure, the government aims to provide at least 10,000 units of public charging facilities by 2025,” he said in his speech at the launch of the first all-electric Mercedes CKD EQS at the Mercedes-Benz Production Plant here today.

He added that the government is prioritising the development of the EV ecosystem and the Local Government Development Ministry’s Town and Country Planning Department is also drafting a circular to facilitate the approval process of charging stations at the local government level.

“MITI also welcomes the continuous support from the industry to produce EVs and their critical components in the country.

“The ministry has also proposed additional attractive incentive packages to encourage the development of the EV ecosystem,” Tengku Zafrul said.

Speaking to reporters during the press conference following the event, the minister said the target to make EVs account for 15 per cent of the TIV by 2030 can be achieved through technological advancements, which would also help to reduce the prices of EVs.

Priced at RM648,888 (excluding insurance), the Mercedes EQS 500 4MATIC is the first all-electric luxury saloon to be fully assembled locally, and will be available from mid-March onwards.

Sumber: Bernama