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2 EV companies from China exploring investments here – Minister

2 EV companies from China exploring investments here – Minister

06 Apr 2023

Two more companies from China are exploring investment opportunities in the Automotive High Technology Valley (AHTV) vehicle hub in Tanjung Malim, Perak, where Zhejiang Geely Holding Group Co Ltd (Geely) is investing RM30 billion.

Science, Technology and Innovation Minister Chang Lih Kang said China Harmony Auto Holding Ltd and GAC AION New Energy Automobile Co Ltd have expressed interest in producing energy vehicle (EVs) in Malaysia for the Southeast Asian market.

He said this came about following the recent visit by Prime Minister Datuk Seri Anwar Ibrahim to the republic, which resulted in a total of RM170 billion in investment commitments from businesses in the country.

“(Representatives from) the two companies are expected to arrive in Malaysia on Saturday. In fact, a number of EV producers have also expressed a similar interest.

“The AHTV, which spans 1,000 acres, will cover an extensive automotive and mobility solutions value chain, from a fully fledged high technology global R&D (research & development) centre to a manufacturing cluster and supporting services, and associated ecosystem for a new energy vehicle industry in Malaysia,” he told a press conference at the ministry today.

With more investments in the EV industry, Malaysia can achieve 38 per cent of its EV target by 2040, in line with the National Low Carbon Mobility Blueprint 2021-2030, he said.

It is learnt that there are now fewer than 10,000 EVs in the country

“Currently, we don’t have a complete ecosystem for EV. We don’t have enough charging stations, for example. This is a good start (as) the companies investing here will help us build the ecosystem.

“The number of EVs in the country is very small, so it’s not economical to build more of these charging ports. It will be different when we have more EVs (on the road),” he said.

Chang said one of agencies under the ministry, NanoMalaysia Bhd, was strengthening the domestic electric mobility ecosystem, among others through the National Energy Storage Initiative, Enabling Mobility Electrification for Green Economy, Rapid Electric Vehicles Innovation Validation Ecosystem, Hydrogen-Paired Electric Racecar and Biomass Innovation Circular Economic Programme.

He said another investment from China under the ministry’s purview is a data centre in Sedenak, Johor. DC-Science Co Ltd is investing US$600 million in the facility.

He also said Malaysia is exploring the potential of the space industry.

During Anwar’s visit to China, a total of 19 memoranda of understanding were signed between businesses in various fields, including green technology and the digital economy.

Source: NST