MIDF Research said in its recent report that Malaysian government policies will continue to favour electrification of the auto sector, in line with decarbonisation ambitions in the National Energy Transition Roadmap and Low Carbon Mobility Blueprint with a target of achieving 15 percent/38 percent xEV penetration by 2030/40 and 10,000 charging points by 2025.

Credits: envato elements;

According to the Malaysian Automotive Association (MAA), xEV sales jumped by 69 percent to over 38,000 units in 2023, accounting for approximately 5 percent of the TIV in Malaysia and showing a continued positive momentum for its demand.