Tengku Zafrul: RM14.7 bln investments approved in EV ecosystem from 2018 to Sept 2022

22 Feb 2023

Investments totalling RM14.7 billion have been approved in the electric vehicle (EV) ecosystem from 2018 to September 2022, covering the assembly of vehicles, EV components and charging components, said International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said among the approved investments was the RM7 billion investment by Samsung SDI Energy Malaysia Sdn Bhd to set up an EV battery cell manufacturing facility, making Malaysia its first production location in Southeast Asia.

“The National EV Task Force (NEVTF) is responsible for evaluating the current policies, monitoring programme and initiative implementation, and drafting new policies and initiatives for the country’s overall EV industry development.

“The results of NEVTF’s initiatives can be seen through the significant rise in EV demand, with demand for EV in the full electric battery category surging to over 3,400 units in 2022 from an average of 300 units in the preceding years,” he said during his winding-up speech for his ministry in the Dewan Rakyat today.

He stressed that efforts to attract investors to install charging infrastructure have been effective as well, with the number of charging stations increasing 69 per cent to 900 units in 2022 compared with the preceding year, as the country moves towards realising the target of 10,000 charging points by 2025 as set in the Low Carbon Mobility Blueprint .

Replying to a query by Syed Saddiq Syed Abdul Rahman (PH-Muar) on renewable energy exports, Tengku Zafrul said the matter is still being discussed with the parties involved, including the Natural Resources, Environment and Climate Change Ministry.

However, further deliberation is needed to ensure it would not impede the national objective of becoming a carbon-neutral nation by 2050, he added.

Source: Bernama