Malaysia secured RM26 billion in EV investments since 2018; targets RM20 bil more by 2025, RM40 bil by 2030

Malaysia secured RM26 billion in EV investments since 2018; targets RM20 bil more by 2025, RM40 bil by 2030

According to investment, trade and industry (MITI) minister Tengku Datuk Seri Zafrul Abdul Aziz, Malaysia has secured RM26.2 billion in approved investments for the EV (electric vehicle) sector through 59 projects from 2018 until the first half of 2023.

This was revealed by Tengku Zafrul in a post on his official Facebook page congratulating EP Manufacturing (EPMB), which recently announced it will begin construction of an automotive manufacturing facility in Melaka.

The assembly plant will be built in the Hicom Pegoh Industrial Park and will manufacture BAIC as well as Great Wall Motor (GWM) vehicles when completed, with an annual capacity of 30,000 units in the first phase of its operations. EPMB will be investing RM100 million into the project which is poised to create around 1,000 new job opportunities in Melaka.

Looking forward, Tengku Zafrul also said in his Facebook post that Malaysia aims to attract an additional RM20 billion in investments in the EV sector by 2025, with the figure doubling to RM40 billion by 2030.

The government, through MITI and the Malaysian Investment Development Authority (MIDA), will facilitate investment opportunities and promote growth in the EV automotive segment, he added.

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Gerard Lye

Originating from the corporate world with a background in finance and economics, Gerard’s strong love for cars led him to take the plunge into the automotive media industry. It was only then did he realise that there are more things to a car than just horsepower count.

 

Comments

  • Nurul Izzah on Oct 23, 2023 at 1:58 pm

    Anwar menang investment mari

    Like or Dislike: Thumb up 4 Thumb down 6
    • Ajibkor on Oct 23, 2023 at 4:58 pm

      33months of PNpas ruling. Yillek kosong Ev

      Like or Dislike: Thumb up 7 Thumb down 1
      • Coming soon one usd five ringgit on Oct 23, 2023 at 5:31 pm

        Refer my name

        Like or Dislike: Thumb up 4 Thumb down 5
        • nilai matawang lain juga susut on Oct 23, 2023 at 7:21 pm

          skrg usd sangat kuat di pasaran matawang dunia sehingga matawang seperti gbp (british pound) pun tak mampu lawan. dulu pernah gbp1 = usd2, tapi sekarang gbp1 = usd1.22. jika nilai gbp juga menyusut dgn begitu banyak berbanding dgn usd, mcm mana pula myr boleh lawan dgn usd?

          Like or Dislike: Thumb up 3 Thumb down 0
          • Pencacai PH detected on Oct 23, 2023 at 10:37 pm

            Jilat sehingga licin

            Like or Dislike: Thumb up 1 Thumb down 5
          • OctopusFX on Oct 24, 2023 at 4:02 am

            Pedagang forex trusted. You can trust your nenek’s money with us

            Like or Dislike: Thumb up 0 Thumb down 0
          • pencacai PN on Oct 24, 2023 at 7:35 am

            kita jilat sampai licin & bersih

            Like or Dislike: Thumb up 3 Thumb down 1
  • Bob Mal on Oct 23, 2023 at 2:16 pm

    So which other car brand can get special approval like Tesla at least give one to China NIO then fair 1 west 1 east.

    Like or Dislike: Thumb up 7 Thumb down 4
  • You sure you are not making the country an EV dumping ground from middle kingdom.

    Like or Dislike: Thumb up 6 Thumb down 1
  • Peppa on Oct 23, 2023 at 3:01 pm

    This zafrul act like he is the hero and savior. I am dying to punch him across the face

    Like or Dislike: Thumb up 14 Thumb down 2
  • ROTI CANAI on Oct 23, 2023 at 11:20 pm

    cakap byk tapi AP system masi ada, bodo

    Like or Dislike: Thumb up 6 Thumb down 0
  • ThePolygon on Oct 24, 2023 at 10:21 am

    Does not translate to anything for normal 9-5 workers. We waiting cheaper cars with no AP.

    Like or Dislike: Thumb up 1 Thumb down 0
 

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