kuala lumpur: According to Deputy Minister of Investment, Trade and Industry Liew Chin Tong, Malaysia has achieved its target of achieving 50% electric vehicle (EV) adoption by 2040 and 80% by 2050 on a total industrial volume (TIV) basis. It is said to be within range.
Mr Liu said this goal is in line with the global transition to sustainable transport, in accordance with the National Energy Transition Roadmap.
According to the International Energy Agency’s Global EV Outlook, EVs accounted for only 2% of total global vehicle sales in 2018, rising to 14% in 2022, and by 2023, EVs will account for 2% of total global vehicle sales. 18% of the total will be from EVs. There were several months this year in China when EVs overtook internal combustion ICE vehicles. So all these things are possible,” he told reporters at E-Mobility Asia 2024 (EMA 2024) today.
Mr Liew said to achieve the goal, Malaysia needs to work together to develop a national initiative to electrify vehicles wherever possible.
He added that this is necessary to reduce the country’s oil consumption and increase opportunities for various forms of manufacturing, including the fusion of the semiconductor and automotive industries.
He further said that the government expects Malaysia to not only manufacture car parts, but also to see horizontal crossover between the car and semiconductor industries.
“So one day we will also be known for designing chips for the automotive industry. That is one of our aspirations,” he said.
Mr Liew said another goal is to leverage the electrification of mobility and enable Malaysia to reduce the nation’s overall oil consumption through this transition.
“Most of our discussions are about shifting the burden of who pays for the country’s oil consumption. I think e-mobility has a big role to play in addressing the RON95 subsidy issue. “Electrification has a big role to play,” he added.
This event, EMA 2024, will highlight electromobility and sustainable solutions as the way forward to reduce global emissions and tackle climate change.
Chinese electric car manufacturers BYD, Chery and GWM are showcasing their latest models at the event, while Malaysia’s Ekrimo is unveiling new bikes.
EMA 2024 is being held amid global forecasts that demand for EVs is rapidly increasing in Southeast Asia and that more than one in four vehicles on the road will be EVs by 2035, according to the International Energy Agency.
Mr Liew hosted the opening of the event, which drew support from stakeholders and industry, including the state-run Malaysian Institute of Automotive, Robotics and IoT, and the Malaysian Electric Vehicle Association as a strategic partner.
