Promising prospects for Malaysia’s electric vehicle market

Malaysia’s abundant renewable energy sources will ease the electric vehicle (EV) infrastructure development within the country, says Geely Holdings Group global communication lead Ashley Sutcliffe.

While the country’s EV market is nascent, it holds a promising future, according to Sutcliffe.

The government’s National Energy Transition Roadmap targets EVs to make up 80% of the nation’s industry volume by 2040, supported by plans to establish 10,000 charging stations by 2025 and increase EV numbers to 500,000 by 2030.

Referencing Malaysia’s renewable energy potential, he said the country is set to become a new energy leader.

He highlighted the importance of government initiatives in starting infrastructure, stating that, “once the government gives it that first push, the stone just keeps rolling.”

Sutcliffe said the demand for EVs is gaining momentum globally, with China being at the forefront of this shift towards a more eco-friendly transportation.

“Once drivers switch to EVs, they won’t go back to petrol,” he said.

He proceeded to compare prices of petrol and the electricity bill when driving an electrified car.

“I drove easily 3,000km on a road trip and the electricity bill was 415 yuan.

“In a petrol car, that would have been 1,500 yuan easily. Petrol is twice the price here compared with Malaysia, so it’s very expensive,” he said.

Sutcliffe added that in recent months, EVs had accounted for 53% of China’s monthly car sales, equivalent to around two million units each month – a sign of rapid public acceptance and demand growth.

He noted that the surge is supported by a vast charging infrastructure and affordable prices.

Early EV models priced at 500,000 yuan to 600,000 yuan are available for as low as 30,000 yuan, making them accessible to a wider market, thus fuelling their popularity.

“So, once you have the scale, the price will go down, adoption comes up,” he pointed out.

The delegation to Geely Holding headquarters here was part of the Malaysian media visit programme to China, organised by the Malaysia-China Friendship Association in conjunction with the 50th anniversary of Malaysia-China diplomatic relations.

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