Zafrul: Malaysia committed to attracting investments in EVs

Malaysia is committed to attracting investments in the electric vehicle (EV) industry, and achieving the national target of making electrified vehicles, including hybrids, account for 15% of the total industry volume (TIV) by 2030.

International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the country is set to achieve the target of making hybrids 38% of the TIV by 2040.

“In terms of charging infrastructure, the government aims to provide at least 10,000 units of public charging facilities by 2025,” he said in his speech at the launch of the first all-electric Mercedes CKD EQS at the Mercedes-Benz production plant here on 15th February.

He added that the government is prioritising the development of the EV ecosystem, and the Ministry of Local Government Development’s Town and Country Planning Department is also drafting a circular to facilitate the approval process for charging stations at the local government level. 

Tengku Zafrul said his ministry also welcomes the continuous support from the industry to produce EVs and their critical components in the country.

“The ministry has also proposed additional attractive incentive packages to encourage the development of the EV ecosystem,” he added.

Speaking to reporters during the press conference following the event, the minister said the target to make EVs account for 15% of the TIV by 2030 can be achieved through technological advancements, which would also help to reduce the prices of EVs.