The Investment, Trade, and Industry Minister of Malaysia (MITI), Datuk Seri Tengku Zafrul Abdul Aziz, has encouraged electric vehicle (EV) manufacturers with facilities in Malaysia to consider making the country their hubs for supplying and servicing the growing EV market in the ASEAN region.
He highlighted Malaysia’s strategic location, good infrastructure, and established electrical and electronics industry. “Malaysia has many positive factors that make its investment landscape highly conducive to supporting multinationals’ regional hub ambitions,” according to Tengku Zafrul in a news report by Bernama via Malay Mail.
The ASEAN EV market is expected to grow at a compound annual rate of 33%, reaching about USD2.7 billion (~RM12.9 billion) by 2027. The minister emphasised the government’s support for the EV transition through the National Automotive Policy, offering incentives for local assembly and manufacturing of hybrid and EVs.
Additionally, efforts are being made to collaborate with global industry leaders and address the demand for skilled talent. The government aims to achieve a National Net Zero goal, supported by initiatives like the Hydrogen Economy and Technology Roadmap.
The National EV Steering Committee is working on building the necessary infrastructure to reach specific targets for EV adoption by 2030, 2040, and 2050.
Key concerns include addressing customer range anxiety through the availability of charging stations and ensuring a reliable power supply for the charging ecosystem.
