Malaysia aims to become Southeast Asia's electric vehicle pioneer

Illustrative image (Photo: Internet)

Kuala Lumpur (VNA) – The Malaysian Government has committed to developing the country’s automotive industry as a strategic economic sector, opening to many high-precision technical opportunities, according to the country's Minister of Investment, Trade and Industry (MITI) Zafrul Abdul Aziz.

Speaking at the signing ceremony of the cooperation agreement between China’s EVE energy and Malaysia's Pemaju Kelang Lema companies, the minister said that the long-standing car manufacturing countries have demonstrated significant impact on job creation and skilled workforce development, as well as the creation of numerous business opportunities for small and medium enterprises (SMEs).

According to the minister, there are many opportunities in renewable energy such as energy efficiency, energy storage systems and support services for electric vehicles, including charge stations, operation, and maintenance, among others.

EVE, which belongs to China-based lithium battery manufacturer EVE Energy Co Ltd, through its subsidiary EVE Asia Co Ltd signed a Memorandum of Understanding with Pemaju Kelang Lama to establish a lithium battery manufacturing company worth 422.3 million USD, located in Kulim, Kedah state, Malaysia.

Zafrul affirmed that EVE's decision to invest in Malaysia demonstrates confidence in the country's skilled workforce and technological expertise, an attractive destination for global investors.

According to Zafrul, the battery industry is an integral part in the transition, towards a sustainable future by electrifying transport and balancing the grid.

He also expressed his belief that Malaysia has the potential to become a pioneer in the regional electric vehicle market./.