KUALA LUMPUR: Plan are afoot to set up an electric vehicle smart manufacturing plant on a 161.87ha site at the Enstek Industrial Park in Negri Sembilan with an investment of RM5 billion.
Malaysian Institute of Economic Research (MIER) chairman Tan Sri Dr Kamal Salih said the project would be developed by a local investor partnering with Elenvi Otomotif Sdn Bhd.
“MIER has been tasked by Elenvi and the investor to conduct a feasibility study and business, investment and financial plan, which will be presented to the prime minister for his consideration.
“This is a private sector investment and it will be up to him (Tun Dr Mahathir Mohamad) to decide if it should be our third national car,” he said at the MIER’s 34th National Economic Briefing, here, today.
MIER did not provide any details of the private funder of the project.
Kamal said Dr Mahathir would launch the first electric car showcase in October and the vehicles would be designed and manufactured for both the local and export markets.
MIER earlier signed several memorandums of understanding (MoUs) with 20 strategic partners, including Elenvi for the electric vehicle smart manufacturing project.
The MoUs highlighted seven technologies, including the electric car, solid state hydrogen, 5G and biojet fuel from palm oil.
The MoUs signing was part of MIER’s new research plan for the 2019 to 2023 period dubbed “Crouching Tiger Plan”, which is inline with the new government’s aspiration to achieve “shared prosperity 2030”.
Kamal said the plan consisted of three main objectives — tackling income and wealth disparity, creating a progressive economy that is of high value and knowledge-based, as well as for the country to emerge as a leading economy in Asia.
“We hope that the proposed concept and planning can be further scrutinised by people at all levels and groups.
“And it will be brought to the grassroots level for feedback and to garner better ideas before it is included in the 12th and 13th Malaysian Plans to achieve shared prosperity by 2030,” he added. - Bernama