Tengku Zafrul - 10,000 Public Chargers By 2025 & 38% TIV For EV and Hybrid By 2040

Earlier today at the launch of the all new BYD ATTO 3, YB Senator Tengku Datuk Seri Utama Zafrul Bin Tengku Abdul Aziz the Minister of International Trade and Industry (MITI) reconfirmed that the new unity government is all in to continue providing incentives for local assembly or manufacturing of Energy Efficient Vehicles, or EEV, including EVs, as well as component makers or OEM’s.

This is in order to stimulate investment and accelerate the development of the EV ecosystem. He added that the Budget 2022 has already included an incentives package to encourage EV adoption, including tax exemptions for EV importation and assembly, road tax exemptions, and tax rebates for EV charger installation. This is to increase the demand for EVs as well as making EVs more inclusive and affordable for all.  

The National Automotive Policy, or NAP 2020, and the Low Carbon Mobility Blueprint outline the Government's direction in the development of the nation's EV industry in order to attract EV investments and meet the national target of 15% total industry volume (TIV) for EV and hybrid by 2030, and 38% TIV by 2040. The goal for charging infrastructure is to have 10,000 public charging stations by 2025.

To carry out the implementation of EV development strategies, the National EV Taskforce (NEVT), led by MITI and composed of relevant Government ministries and agencies, was formed. NEVT reviews and implements new strategies to promote a healthy EV industry in Malaysia on a regular basis.

The NEVT's primary goal is to address the barriers to greater EV market adoption, improve EV charging infrastructure, and encourage ecosystem investments. Among the notable ongoing initiatives that will be implemented as early as next year are:

1. Easing AP procedures to encourage EV imports

2. Creating standards and improving procedures to make the installation of EV charging infrastructure easier; and

3. Attracting investors to the electric vehicle ecosystem, which includes vehicle assembly, critical components, and aftermarket services

   
   

The need to adapt to an ever-changing world means that sustainability or ESG is no longer an option, but rather a requirement for businesses to remain relevant. The Twelfth Malaysia Plan will be the driving force behind this as the goal is to achieve net zero carbon emissions by 2050.