PETALING JAYA: Electric vehicle (EV) manufacturers with Malaysian facilities are encouraged to consider the country as a hub to supply and serve the rapidly expanding EV market in Asean, says Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
He pointed out that the Asean EV market is expected to grow at a compound annual growth rate of 33% to US$2.7bil by 2027 from around US$500mil in 2021.
“Malaysia has many positive factors that make its investment landscape highly conducive to supporting multinationals’ regional-hub ambitions,” Tengku Zafrul said at the launch of UMW Toyota Sdn Bhd’s Beyond Zero initiative yesterday.
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