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Home News Auto News MITI is gunning for RM20bln EV investment by 2025 MITI is gunning for RM20bln EV investment by 2025 Auto News Adam Aubrey | January 13, 2023 02:42 pm MITI aims to attract more EV investment and wants to see it rise to RM40 billion by 2030. Under the watchful eye of Tengku Datuk Seri Zafrul Tengku Abdul Aziz, the Ministry of International Trade and Industry (MITI) aims to attract RM20 billion in investments surrounding electric vehicles by 2025. The Minister of International Trade and Ministry also said that they are hoping for the investment to rise to RM40 billion by 2030, doubling up on the initial target. As quoted in the Sun, the minister said they must approach electric vehicles holistically, which will involve things such as EV software, equipment, engineering and others. "We need to look at the EV ecosystem and the supply chain as a whole and we will also discuss efforts to further strengthen the EV industry through further discussions with the task force," he said, as reported in the Sun. Tengku Zafrul said this at the memorandum of agreement (MoA) signing ceremony between Artroniq Bhd and United States (US)-based Beno Inc recently. Under the agreement, Artroniq has full installation rights for a range of electric bicycle products under the Reevo brand for a period of two years.The deal can potentialy be worth more than RM100 million by 2025 and will create more than 100 new job opportunities for Malaysians. Artroniq chief executive officer Kent Liaw Way Gian said over 95% of the electric bicycles produced by Beno were exported to the US and Europe, and if we want to attract more investment for the green sector, we need more deals like this to occur. If we were to depend on Malaysians who are quite frankly spoilt by fuel subsidies, it'd be hard for us to get the electric vehicle sector off the ground, let alone see it grow. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags tengku zafrul MITI EV investment Malaysia Reevo bicycles Print Adam Aubrey Content Producer Wants to live the simple life, especially when it comes to cars and bikes. That's what tech is for he reckons, to make motoring simpler Related News Malaysia's AP system remains Intact despite Tesla's entry, says Trade Minister Auto News Adam Aubrey | July 20, 2023 The Minister of Investment, Trade, and Industry (MITI), Tengku Datuk Seri Zafrul Abdul Aziz, clarified that the government has no current plans to ... BMWs Cannot Enjoy Same Fuel Subsidy As Kancil - Azmin Ali Auto News Ferdinand | May 22, 2022 In a bold and rather all-encompassing statement, International Trade and Industry Minister, Azmin Ali said, “Those with BMWs cannot enjoy the same ... Mercedes-Benz Malaysia presents four EQ models to Tengku Zafrul on behalf of MITI Auto News Jim Kem | July 29, 2024 Late last week, Mercedes-Benz Malaysia made a somewhat unexpected move by presenting four brand new units of various models from its EQ range of ... MITI: Decision On Open APs To Be Finalised Soon Auto News Hans | June 26, 2018 The government is expected to make a decision (again...) on the controversial Open Approved Permits (APs) import control mechanism soon, said ... Comments
MITI is gunning for RM20bln EV investment by 2025 Auto News Adam Aubrey | January 13, 2023 02:42 pm MITI aims to attract more EV investment and wants to see it rise to RM40 billion by 2030. Under the watchful eye of Tengku Datuk Seri Zafrul Tengku Abdul Aziz, the Ministry of International Trade and Industry (MITI) aims to attract RM20 billion in investments surrounding electric vehicles by 2025. The Minister of International Trade and Ministry also said that they are hoping for the investment to rise to RM40 billion by 2030, doubling up on the initial target. As quoted in the Sun, the minister said they must approach electric vehicles holistically, which will involve things such as EV software, equipment, engineering and others. "We need to look at the EV ecosystem and the supply chain as a whole and we will also discuss efforts to further strengthen the EV industry through further discussions with the task force," he said, as reported in the Sun. Tengku Zafrul said this at the memorandum of agreement (MoA) signing ceremony between Artroniq Bhd and United States (US)-based Beno Inc recently. Under the agreement, Artroniq has full installation rights for a range of electric bicycle products under the Reevo brand for a period of two years.The deal can potentialy be worth more than RM100 million by 2025 and will create more than 100 new job opportunities for Malaysians. Artroniq chief executive officer Kent Liaw Way Gian said over 95% of the electric bicycles produced by Beno were exported to the US and Europe, and if we want to attract more investment for the green sector, we need more deals like this to occur. If we were to depend on Malaysians who are quite frankly spoilt by fuel subsidies, it'd be hard for us to get the electric vehicle sector off the ground, let alone see it grow. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags tengku zafrul MITI EV investment Malaysia Reevo bicycles
Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price.
Malaysia's AP system remains Intact despite Tesla's entry, says Trade Minister Auto News Adam Aubrey | July 20, 2023 The Minister of Investment, Trade, and Industry (MITI), Tengku Datuk Seri Zafrul Abdul Aziz, clarified that the government has no current plans to ...
BMWs Cannot Enjoy Same Fuel Subsidy As Kancil - Azmin Ali Auto News Ferdinand | May 22, 2022 In a bold and rather all-encompassing statement, International Trade and Industry Minister, Azmin Ali said, “Those with BMWs cannot enjoy the same ...
Mercedes-Benz Malaysia presents four EQ models to Tengku Zafrul on behalf of MITI Auto News Jim Kem | July 29, 2024 Late last week, Mercedes-Benz Malaysia made a somewhat unexpected move by presenting four brand new units of various models from its EQ range of ...
MITI: Decision On Open APs To Be Finalised Soon Auto News Hans | June 26, 2018 The government is expected to make a decision (again...) on the controversial Open Approved Permits (APs) import control mechanism soon, said ...