Malaysia targets 80% EEV penetration by 2022

BATU KAWAN: The penetration of energy-efficient vehicles (EEVs) in the country is expected to reach 80% of total industry volume (TIV) by 2022.
Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan said this is in line with the National Automotive Policy (NAP) 2014 to make Malaysia a regional EEV hub by 2022.
“The NAP has placed emphasis on green initiatives, with the ultimate objective of establishing Malaysia as a regional EEV hub.
“To date, EEV penetration in our market has been very encouraging and we have set a penetration rate of 80% in 2022,” he told reporters after attending the Boon Siew Honda Motorcycles 60th Anniversary celebration today.
He said the EEV penetration in Malaysia was expected to be ramped up to as much as 50% of TIV by end of 2017, after hitting 42.8% last year.
Ong said the EEV policy was tailored to meet future demand in vehicle technology, alongside the need to produce skilled labour, investments in technology and sustainable mobility.
He commended Boon Siew Honda for its effort in promoting the EEV initiative in Malaysia as it has benefited both consumers and the environment, and contributed to the development of EEVs in Malaysia.
“Such initiative will attract high-quality investments in domestic automotive manufacturing activities and improve the competency of our automotive industry in EEV technology,” he said.
He said Boon Siew Honda had already started the process to introduce hybrid electric vehicles in 2018 and electric vehicles in 2020 in its effort to continue producing reliable, economical and affordable motorcycles for Malaysians.
Ong said that although the local automotive business and motorcycle industry had been declining since 2014, 330,578 units of motor vehicles were sold in the January-September 2017 period compared with 397,918 units for the whole of 2016.
“We anticipate an uptrend in the automotive and motorcycles industry next year, especially in the EEV segment,” he said. – Bernama