According to Vietnam Plus, Malaysia's Minister of Investment, Trade and Industry, Tengku Zafral Abdul Aziz, the ASEAN electric vehicle market is expected to reach $2.7 billion by 2027, more than five times the $500 million in 2021.

　　Image source: BYD

　　On November 22, Zafrul stated in his opening speech for E-Mobility Asia 2023 held in Kuala Lumpur that Malaysia has many competitive advantages due to the development of the electric vehicle industry and the new generation of integrated automotive ecosystems, which can attract more high-value investments. In the past 50 years, Malaysia's electrical and electronics industry has grown and strengthened, especially the semiconductor industry, consolidating its position in the global supply chain.

　　According to the Malaysian government's plan, pure electric and hybrid vehicles will account for 20% of total new car sales by 2030, 50% by 2040, and 80% by 2050. However, according to Fitch's forecast, the total sales of electric vehicles in Malaysia this year are about 5840 units, an 82% increase from 2022, with a penetration rate of only 1.8%.

　　When it comes to domestically produced electric vehicles in Malaysia, Zafrul predicts that the first car will be launched in 2025 and believes that Malaysia can provide 10000 electric vehicle charging stations nationwide. Zafral also stated that Malaysia hopes to cooperate with member countries such as Thailand, Vietnam, Singapore, the Philippines, and Indonesia to achieve complementary advantages and fully utilize the supply chain directly transferred to ASEAN.

　　On November 21st, Geely Automobile launched three versions of the Smart # 1 electric vehicle in Kuala Lumpur, namely the Pro, Premium, and Brabus versions. Among them, the starting price of Pro is 189000 Ringgit ($40640), and the starting price of Brabus is 249000 Ringgit.

　　This article is reprinted from Gaishi Automotive Information Network