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Malaysia one of the best countries for EV industry, says association

Malaysia one of the best countries for EV industry, says association

30 May 2023

Malaysia is one of the best countries for the electric vehicle (EV) industry, as it ticks all the right boxes for investments and exports, said the Electric Vehicle Association Of Malaysia (Evam).

Its president Datuk Dennis Chuah said Malaysia has the right infrastructure, talent pool, skills and innovative technology to support the EV industry and meet the needs of the global value chain in Southeast Asia and beyond.

“There are already a handful of Malaysian companies exporting components to EV manufacturers.

“Local automotive companies have already announced their plans for their first EVs and we are seeing more foreign automotive players coming into Malaysia,” he said at the E-Mobility Asia press conference here on Tuesday (May 30).

Chuah noted that the government has provided incentives to boost the adoption of EVs by way of tax exemptions and the installation of 10,000 EV charging points by 2025.

“While the base for EVs in Malaysia is currently low, at less than 1% of car ownership, the good news is that demand is gaining traction.

“This signals that EV adoption is poised for expansion; as consumers make more conscious efforts to be eco-friendly, they see that there are choices before them and the infrastructure is in the works,” he added.

Source: Bernama