Green effort: (From left) UMW Holdings Bhd president and group chief executive Mustamir Mohamad, UMW Toyota deputy chairman Takashi Obata, Tengku Zafrul, Science, Technology and Innovation Minister Chang Lih Kang, Asia Region Toyota Motor Corp chief executive Masahiko Maeda and Ravindran at the Beyond Zero launch.
PETALING JAYA: Electric vehicle (EV) manufacturers with Malaysian facilities are encouraged to consider the country as a hub to supply and serve the rapidly expanding EV market in Asean, says Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
He pointed out that the Asean EV market is expected to grow at a compound annual growth rate of 33% to US$2.7bil by 2027 from around US$500mil in 2021.
“Malaysia has many positive factors that make its investment landscape highly conducive to supporting multinationals’ regional-hub ambitions,” Tengku Zafrul said at the launch of UMW Toyota Sdn Bhd’s Beyond Zero initiative yesterday.
He added that aside from its strategic location, good infrastructure and rule of law, Malaysia also boasts a well-established electrical and electronics sector, which has been reliably feeding other industries including aerospace, renewable energy and EVs.
The automotive industry posted a strong showing in 2023, achieving total industry volume (TIV) of close to 800,000 units, while the adoption of EVs increased its share of TIV to 4.12% in 2023 from 2.77% in 2022.
Tengku Zafrul added that the National EV Steering Committee will address concerns relating to energy-efficient vehicles (EEVs) and EVs, and build the necessary infrastructure to meet the aim of 20% of TIV for EVs by 2030, 50% of TIV by 2040, and 80% of TIV by 2050.
“In short, the evolution of transport, utilities and their power distribution networks are the linchpins that will begin or fasttrack collaborations with all infrastructure players as well as other members of the e-mobility ecosystem.
“All these initiatives will strongly support our pursuit of the green agenda, be it via greening our industries and industrial parks, developing more renewable energy capacity or in attracting the right green investments,” he said.
Meanwhile, the Investment, Trade and Industry Ministry also aims to empower the local automotive industry through various investment incentives for the assembly or manufacture of hybrid and EVs via the National Automotive Policy.
Tengku Zafrul said the government encourages collaboration with global industry leaders to bring the production of clean energy vehicles to Malaysia and begin their research and development facilities in this country.
For its part, UMW Toyota is extending its commitment to sustainable and eco-friendly practices via its Beyond Zero Initiative, in line with Toyota’s global pursuit of carbon neutrality by 2050.
UMW Toyota president Datuk Ravindran Kurusamy said the company’s initiatives promote a multi-pathway strategy while carrying out suitable life-cycle measures that are in line with the national interests and Sustainable Development Goals of each nation.
“We recognise the importance of seamless integration of mobility choices and energy solutions, and we believe that every customer should be able to choose the right low-carbon solution that meets their needs,” he said.
The Beyond Zero event was launched to share the company’s approach with various electrified technologies, including hybrid EVs, battery EVs and fuel cell EVs, showcasing the latest technologies in automotive sustainability aimed at reducing environmental impacts.
