EV sales set to soar in 2024, says Tengku Zafrul

PORT KLANG: Electric vehicle (EV) sales in Malaysia are expected to grow exponentially this year, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said that the projection is in line with the rising number of EVs sold last year, which went up by 200 per cent compared to 2022, and based on industry players’ confidence in the rising interest in high-tech vehicles.

Malaysia recorded more than 100,000 registered EVs as of December last year.

"This projection hinges on holistic efforts to ensure that the EV ecosystem is ramped up and complete, such as charging stations, besides sales,” he told the media after launching the EV assembly plant owned by Tron Bradbury Energy (Malaysia) Sdn Bhd, here today.

Meanwhile, Tengku Zafrul said the country has more than 1,500 EV charging stations and that number needs to be increased to provide convenience to people, especially those living in multi-storey residences or high-rise buildings, to ensure there is no "range anxiety” for long-distance driving.

The minister also said that the provision for the Electric Motorcycle Use Promotion Scheme (MARiiCas), which offers a rebate of up to RM2,400 for the purchase of electric motorcycles, which was launched last December, has 15,000 registered applicants so far.

"We will apply to the Ministry of Finance to continue the MARiiCas scheme and increase its allocation because many people are now open to buying electric motorcycles,” he said.

The Tron Bradbury Energy  plant would make commercial electric vehicles and battery systems.  Slated to be built from Q2 this year, the plant is located in Malaysia Vision Valley in the southern part of the Klang Valley.