Azmin: EPU formulating policy to ensure adequate electricity supply to meet EV demand - MIDA | Malaysian Investment Development Authority
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Azmin: EPU formulating policy to ensure adequate electricity supply to meet EV demand

Azmin: EPU formulating policy to ensure adequate electricity supply to meet EV demand

10 Nov 2021

The Economic Planning Unit (EPU) is formulating a national energy policy to ensure the country’s electricity supply can meet the demand of not only electric vehicle (EV) users but also the industrial and household sectors.

Senior International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali told the Dewan Rakyat the national energy consumption requirement needed to be given serious attention for the transition to EVs or energy-efficient vehicles (EEVs) to replace internal combustion engine (ICE) vehicles.

“The transition to the EEV and EV industries needs to be made carefully so that the supply of energy is adequate.

“The government encourages the production and installation of EEVs, including electric and hybrid.”

Azmin emphasised the need to organise a strategy to attract investments, especially in the installation of components related to the EV industry, in line with the National Investment Aspiration (NIA).

“This is in line with the government-approved NIA in April this year whereby the priority measures are to attract high-tech and quality investments in order to create jobs for the locals

“In line with the NIA, a company from the Republic of Korea has invested RM4.24 billion in Sabah this year to produce copper foil for the purpose of manufacturing and producing batteries for EV vehicles. This is one of the initial steps that we have successfully implemented,” he said.

He was replying to a supplementary question from Nik Mohamad Abduh Nik Abdul Aziz (Pas-Bachok) on the government’s specific strategy to attract investments in the EV components manufacturing sector and the government’s strategic plan for existing car manufacturers to focus on the development of EV and hybrid vehicles as opposed to the current focus on EEV.

In reply to a supplementary question from Choong Shiau Yoon (Independent-Tebrau) on the potential joint-venture partner to develop EVs in Malaysia, Azmin said the success of developing the EV industry needed support not only from government policies but also the private sector for infrastructure development.

“Under the Environment and Water Ministry, there is an agency called Malaysian Green Technology and Climate Change Centre which is, together with several private parties, researching and refining for the construction of new infrastructure including charging stations.

“This is a big challenge so we are looking into this matter and I believe this matter will be put forward in the near future,” he said.

Besides that, he said during the trade mission to Europe recently, the ministry met with several major vehicle manufacturers that are introducing EV technology and would be the country’s partners in the future.

“One of the companies has decided and announced that it will invest in Gurun, Kedah in the near future and this will give us the opportunity to be involved in precision engineering and green technology that are widely used at present,” he said. 

Source: Bernama