Liew Chin Tong, the deputy minister for investment, trade and industry, said populating Malaysian roads with EVs would help to reduce the fiscal burden of petrol subsidies while building a more climate-friendly nation.
Malaysia should aim to electrify, to reduce the total amount of petrol used, as the current focus on subsidy rationalisation was mainly useful from a fiscal point of view.
“If we get our act together, Malaysia can see the exponential growth of EVs on our roads in the next five years, to reach the target of 20% of vehicles in 2030,” he said.
Liew said Malaysia’s energy security lies in restoring the nation as a net exporter of petroleum, and in looking at EVs as the solution.
“Users who rely on their vehicles still need to drive, unless there are viable alternatives. We should do a lot more for public transport to reduce the need for driving,” he said in a speech at the launch of the first locally-manufactured Chery Omoda EV in Kulim.
“Not only should we focus on the current level of petrol usage, we should aim to electrify to reduce the total amount of petrol used by the nation, with the objective of becoming a net exporter of petroleum again,” he said.
Liew said EVs formed 18% of global vehicle sales last year, compared to 2% in 2018.
Malaysia’s adoption of EVs is significantly slower than Thailand, Vietnam and Singapore, he said. “In 2023, Malaysia sold 799,731 motor vehicles, of which only 1.2% were battery electric vehicles (10,159 units).
“Yet, Malaysia has a very sizable total industry volume and highest per capita sales of cars in Southeast Asia,” he said. Last year, Malaysia sold about 78,000 more motor vehicles than in 2022. - FMT
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