KUALA LUMPUR: Malaysia’s goal of reaching 50% electric vehicle (EV) adoption by 2040 and 80% by 2050 in terms of total industry volume (TIV) is within reach, according to Deputy Investment, Trade, and Industry Minister Liew Chin Tong.
Liew said that the target – in accordance with the National Energy Transition Roadmap – aligns with the global shift towards sustainable transport.
“According to the International Energy Agency in the Global EV Outlook, globally in 2018, only 2% of total global sales was from EV, but by 2022, it was 14%, and by 2023, 18% of total global sales of cars comes from electric vehicles. In China this year, there were several months that EV overtook internal combustion cars, ICE cars. So these are all possible,” he told reporters at E-Mobility Asia 2024 (EMA 2024) today.
To achieve the target, Liew said that Malaysia needs to work together to develop a national effort to electrify its vehicles as much as possible.
He added that this is necessary to reduce national oil consumption and create more opportunities for various forms of manufacturing, including crossings of semiconductor and automotive industries.
Additionally, he said that the government is hoping that Malaysia will not just manufacture parts of the cars, but it is hoping that there will be horizontal crossing between the automotive industry and the semiconductor industry.
“So that one day, we are also known for designing chips for the automotive industry. That is one of our aspirations,” he remarked.
Liew said that another aspiration is to take advantage of the electrification of mobility, so that through this transition, Malaysia can reduce its overall national petroleum consumption.
“In most of our discussions, we are talking about shifting the burden of who pays for the petroleum consumption in this country. To address the question of the RON95 subsidy, I think E-Mobility has a big role to play. Electrification has a big role to play,” he added.
The event, EMA 2024 unveils electromobility and sustainable solutions as the way forward to reduce global emissions and tackle climate change.
China’s electric car manufacturers BYD, Chery and GWM are showcasing their latest models at the event, while Malaysia’s Eclimo is unveiling its new bikes.
EMA 2024 comes as EV demand surges in Southeast Asia and amid the global outlook that more than one in four vehicles on the road will be electric by 2035 according to the International Energy Agency.
Liew officiated the opening of the event that has drawn stakeholder and industry support including the state-owned Malaysia Automotive, Robotics & IoT Institute, and Electric Vehicle Association of Malaysia as strategic partners.
