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Govt Committed to Developing Automotive Industry as Strategic Economic Sector, Says Zafrul

The government is committed to developing the automotive industry as a strategic economic sector that opens up numerous precision engineering opportunities, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said established automotive-producing countries had demonstrated the significant impact this industry can have on job creation and the development of a skilled workforce, as well as creating numerous business opportunities for small and medium enterprises.

“Opportunities abound in the areas of renewable energy, energy efficiency, energy storage systems, and support services for electric vehicles (EVs), such as EV charging stations, operations and maintenance,” he said.

The minister assured that his ministry is seriously looking into policies that will support these sectors to ensure the EV ecosystem is complete and fully supported, including standards, certification and verification related to charging systems, battery disposal activities, battery swapping and wireless charging.

Tengku Zafrul said this in his keynote address in conjunction with the memorandum of understanding (MOU) signing ceremony between EVE Energy Malaysia Sdn Bhd and Pemaju Kelang Lama Sdn Bhd on Friday (May 12).

EVE, which is wholly owned by China-based lithium battery production company EVE Energy Co Ltd through its subsidiary EVE Asia Co Ltd, inked the MOU with Pemaju Kelang Lama for the establishment of EVE's US$422.3 million (RM1.89 billion) cylindrical lithium-ion battery manufacturing facility in Kulim, Kedah.

Tengku Zafrul said the significant investment is expected to generate about 600 new high-quality and high-skilled job opportunities for Malaysians.

“With the establishment of EVE's 53rd manufacturing plant, we are poised to strengthen our sustainable ecosystem, and make great strides towards a brighter and more prosperous future," he said.

Tengku Zafrul believes the facility would play a pivotal role in the development of an international cylindrical battery industrial park in the country, enhancing Malaysia's sustainable ecosystem and driving forward technological advancements.

"The decision by EVE to invest in Malaysia underscores its confidence in the country's skilled workforce and technological expertise, positioning us as an attractive destination for global investors," he said.

Meanwhile, Tengku Zafrul noted that the battery industry is an indispensable component in transitioning towards a sustainable future by electrifying transportation and balancing power grids.

"I firmly believe that Malaysia has the potential to emerge as a pioneering force in the EV market within the region," he said.

Source: Bernama

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