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Industrial plan to cash in on US$2.7 billion Asean EV market, says Tengku Zafrul | The Malaysian Insight

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Industrial plan to cash in on US$2.7 billion Asean EV market, says Tengku Zafrul

Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz says Malaysia is pushing for a higher electric vehicle market penetration. – The Malaysian Insight file pic, July 6, 2023.

As part of its global expansion, the Chinese state-owned automobile manufacturer announced the RM170 million injection, which will provide 4,000 high-paying, high-skilled jobs for Malaysians in the next five years. Chery Malaysia, Tengku Zafrul said, is aiming for its EV and plug-in hybrid EV models to reach around 20% of the EV market share in Malaysia by as early as 2024, and will introduce affordable models in future.

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