Malaysia’s Car Market Sees Steady Shift Towards EVs - EY

In spite of slow global demand, driven by rising fuel costs and environmental concerns, 25% of Malaysians are interested in purchasing an electric vehicle (EV), according to Ernst & Young's (EY) fifth annual EY Global Mobility Consumer Index.
According to the report, which polled 19,000 people in 28 countries, including Malaysia, almost 40% of Malaysians stated they would rather purchase an internal combustion engine, with hybrid cars coming in second (20%).

The company stated that automakers must appeal to younger, more frugal, and driven consumers to encourage them to make the switch in light of growing fuel prices (43%), the environment's impact (35%), and the range of EVs available (27%).
Despite government incentives aimed at expanding the EV market—with the goal of 15% of new car sales being EVs by 2030—Malaysia's consumers are still wary, taking into account things like the EVs' potential resale value (57%), their ability to access renewable energy sources for charging (51%), and the cost of continuing battery maintenance (41%).

According to EY Asia Pacific Energy Customer Experience Leader Mark Bennett, the survey results indicate that there is still a significant amount of work to be done in addressing concerns related to infrastructure, range, and battery replacement costs.
With 27% of prospective buyers citing a lack of charging points as a deterrent, the report also highlighted the critical role that public charging infrastructure plays in fostering consumer confidence to switch to electric vehicles. Public charging infrastructure includes finding a charger (61%), waiting long periods (53%), and the cost of using public chargers (38%).

Therefore, a lot of EV owners would rather charge at home (68%), and for those who can, the experience is better (77% satisfaction), with key factors to consider being charging speed (79%), installation costs (72%), and incentives and rebates (55%), according to EY.