KUALA LUMPUR, Oct 2 — The government will ensure that electric vehicle (EV) ownership is available to all income groups through targeted subsidies and financial assistance, said Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz.

At the same time, the government is also ramping up efforts to expand and enhance the country’s EV charging infrastructure.

"As we look to the future and the upcoming Budget 2024, our focus remains on inclusivity, aligning with the Madani Economy Framework,” he said at the launch of the Tesla Centre in Cyberjaya, today.

He noted that the implementation of policies and initiatives has had a positive impact on the local automotive industry, reflecting the government’s commitment to developing a holistic EV ecosystem in the country.

The number of registered EVs increased to over 3,400 units in 2022 and exceeded 7,500 units by September 2023, compared to an average of 300 units in previous years.

"Furthermore, investments in our EV industry have reached an impressive RM26.2 billion from 2018 up to March this year,” he said.

Meanwhile, Tengku Zafrul said the EV policy must also be in tandem with the recently launched New Energy Transition Roadmap 2030 (NETR 2030).

"This is important because there is no point in having thousands of EVs on the road if Malaysia is not ‘greening its grid’ fast enough by developing more and more Renewable Energy (RE) sources,” he said, noting that the NETR aims to accelerate investments in grid infrastructure, with incentives for RE development.

On the same note, Tengku Zafrul said Tesla’s presence in Malaysia will enhance the EV ecosystem and boost the nation’s potential as a regional EV production hub, which could attract further investments in the sector.

With Tesla’s presence, Malaysia is ready to expedite the transition to EVs, and the nation is set to see a surge in technological advancements, research, and development in the EV sector, he said.

"We look forward to seeing more local talents being nurtured, more local businesses thriving in the EV supply chain, and more innovations that will put Malaysia on the global map of sustainable transportation,” he added. — Bernama