Panasonic’s EV Battery Investment on Zafrul’s Agenda for Malaysia

Malaysia continues to draw strategic investments in high-tech industries, strengthening its position as a leader in innovation. MITI Minister Tengku Zafrul Aziz once again took to his social to share his recent visit to the Panasonic EV Battery Centre in Tokyo, Japan,

In his post, Zafrul empahsised the importance of Panasonic to invest in Malaysia in lithium-ion battery technology and components related to electric vehicles (EVs).

Panasonic’s potential investment will also align with the country’s National Automotive Policy (NAP) 2020 and the New Industrial Master Plan 2030 (#NIMP2030) policies, which aims to position Malaysia as a regional automotive hub for EVs and critical components.

Zafrul further highlighted that the global demand for electronic and electrical components for EVs is surging, driven by the electrification trend within the automotive industry. As the second-largest automotive market in ASEAN, Malaysia boasts a robust electrical and electronics (E&E) ecosystem capable of supporting the development of EVs.

Malaysia’s E&E sector, according to him, is backed by the strong support of the Malaysian Investment Development Authority (MIDA). He also stated that Malaysia continues to be a preferred investment destination for companies like Panasonic, reflecting confidence in the nation’s potential as a leader in future technologies.

With sustained commitment in developing the automotive ecosystem and collaborative support from all stakeholders, Malaysia is poised to remain a central hub for innovation in EV technology in the region.