Nation

Electric vehicle development set to attract investments

PEKAN: The National Electric Vehicle Task Force (NEVTF) is set to play a pivotal role in attracting investments in the EV industry to achieve the national target of 15 per cent total industry volume (TIV) for electrified vehicles including hybrids by 2030.

International Trade and Industry Minister (Miti) Tengku Datuk Seri Zafrul Tengku Abdul Aziz said NEVTF led by Miti along with relevant government ministries, agencies and representatives from the private sector was established to execute EV development strategies.

"NEVTF's main focus is to look into the challenges for a higher adoption of EV in the market, enhance EV charging infrastructures and promote investments in the ecosystem. Works are in progress to improve the approved permits (AP) policies to facilitate EV import, develop standards and improve procedures to establish the EV charging infrastructure.

"The task force will identify ways to attract investors in the EV ecosystem including assembly of EV, critical components and aftermarket activities. The government is currently prioritising the development of the EV and Miti has proposed additional attractive incentive packages to encourage the development of the EV ecosystem in Budget 2023," he said in his speech at the launch of the first all-electric Mercedes CKD EQS at the Mercedes-Benz production plant here today.

The Mercedes Benz EQS 500 4Matic, all-electric luxury sedan, will be available from the middle of next month.

During the press conference, Tengku Zafrul said the Town and Country Planning Department (PlanMalaysia) was drafting a circular to facilitate the approval process of charging stations at local government-level.

"The government aims to provide at least 10,000 units of public charging facilities by the year 2025. The government will work closely with the automotive companies involved in manufacturing EV vehicles and with the companies which install the EV charging stations.

"We will speak to KeTSA (Energy and Natural Resources Ministry) as the whole ecosystem will not be complete if we have EV vehicles but lack charging stations. Now, PlanMalaysia is getting the local council involved (to install EV charging stations)," he said when asked about efforts taken to promote EV use in Malaysia.

On achieving the national target of 15 percent of the total industry volume (TIV) for EVs and hybrids by 2030, Tengku Zafrul said the government remained committed especially with various initiatives in place.

"The target is high but if there is a continuous demand for EVs then we hope the prices will decline. We are optimistic that technological advancements in the EC ecosystem will help reduce the prices and boost demand for EVs, allowing the country to achieve the target of 15 per cent TIV by 2030, and 38 per cent by 2040," he said.

Meanwhile, Mercedes-Benz Malaysia chief executive officer and president Sagree Sardien, in her speech, said Mercedes-Benz had reached a new milestone with the roll out of its first locally-assembled electric vehicle the EQS 500 4Matic.

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