Zafrul: EV sales to see rapid growth in 2024 - MIDA | Malaysian Investment Development Authority
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Zafrul: EV sales to see rapid growth in 2024

Zafrul: EV sales to see rapid growth in 2024

19 Jan 2024

Electric vehicle (EV) sales in Malaysia are expected to grow exponentially this year, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said that the projection is in line with the rising number of EVs sold last year, which ballooned 200% compared to 2022, and based on industry players’ confidence in the rising interest in high-tech vehicles. 

Malaysia recorded more than 100,000 registered EVs as of December last year.

“This projection hinges on holistic efforts to ensure that the EV ecosystem is ramped up and complete, such as charging stations, besides sales,” he told the media after officiating the launch of the EV assembly plant owned by Tron Bradbury Energy (Malaysia) Sdn Bhd, here on Friday.

Meanwhile, Zafrul said the country has more than 1,500 EV charging stations and that number needs to be increased to provide comfort to people, especially those living in multi-storey residences or high-rise buildings, to ensure there is no “range anxiety” for long-distance driving.

The minister also said that the Electric Motorcycle Use Promotion Scheme (MARiiCas), which offers a rebate of up to RM2,400 for the purchase of electric motorcycles that was launched last December, has been fully taken up.

“We will apply to the Ministry of Finance to continue the MARiiCas scheme and increase its allocation because many people are now open to buying electric motorcycles,” he said. 

Source: Bernama