NAP 2020 expects RM50.6 bln of CBU, auto parts exports value by 2030

​The National Automotive Policy 2020 (NAP 2020) expects the total value of exports to reach RM50.6 billion by 2030

The National Automotive Policy 2020 (NAP 2020) expects the total value of exports to reach RM50.6 billion by 2030.

These comprise exports of Complete Built-Up (CBU) worth RM12.3 billion, new automotive parts and components exports (RM28.3 billion) and remanufactured automotive parts and components (RM10 billion).

According to the NAP 2020 booklet released by the Ministry of International Trade and Industry (MITI) today, the NAP 2014 estimated exports 250,000 CBU units by 2020, while exports of new automotive parts and components' target was set at RM10 billion.

The booklet was released in conjunction with the launching of NAP 2020.

Meanwhile, exports of remanufactured automotive parts and components was expected to reach RM2 billion this year.

The NAP 2020 also forecasted to create a total of 1,285 suppliers, comprising 400 tier 1 suppliers and 885 tier 2 and below suppliers.

By 2030, a total 350 robotics companies and 380 Internet of Things (IoT) firms are expected to be developed under the new automotive policy framework.

In addition, 280 leader companies, 500 experience firms and 660 learners companies are likely to participate in the Industry4WRD Readiness Assessment programme by 2030.

NAP 2020 also set to see the establishment of centres of full-fledged Vehicle Type Approval (VTA) testing, Electric Vehicle Interoperability, Virtual Design, Additive Manufacturing Design, Robotics & Artificial Intelligence (AI) and Digital Twin.

MITI would also set Autonomous/Automatic Vehicle Test Bed and establish Technology Academy (Automotive & Overall Mobility) by 230.

"In this regard, monitoring and reporting of NAP 2020 implementation will continue via the Malaysian Automotive Council, where MITI Minister Datuk Darell Leiking as the chairman and to appoint the members," MITI added.

Source: Bernama 

Posted on : 21 February 2020
Last Updated : Thursday 21st May 2020