According to investment, trade and industry (MITI) minister Tengku Datuk Seri Zafrul Abdul Aziz, Malaysia has secured RM26.2 billion in approved investments for the EV (electric vehicle) sector through 59 projects from 2018 until the first half of 2023.
This was revealed by Tengku Zafrul in a post on his official Facebook page congratulating EP Manufacturing (EPMB), which recently announced it will begin construction of an automotive manufacturing facility in Melaka.
The assembly plant will be built in the Hicom Pegoh Industrial Park and will manufacture BAIC as well as Great Wall Motor (GWM) vehicles when completed, with an annual capacity of 30,000 units in the first phase of its operations. EPMB will be investing RM100 million into the project which is poised to create around 1,000 new job opportunities in Melaka.
Looking forward, Tengku Zafrul also said in his Facebook post that Malaysia aims to attract an additional RM20 billion in investments in the EV sector by 2025, with the figure doubling to RM40 billion by 2030.
The government, through MITI and the Malaysian Investment Development Authority (MIDA), will facilitate investment opportunities and promote growth in the EV automotive segment, he added.
The post Malaysia secured RM26 billion in EV investments since 2018; targets RM20 bil more by 2025, RM40 bil by 2030 appeared first on Paul Tan’s Automotive News.
