EV automakers urged to consider making Malaysia their EV hubs in Asean - Tengku Zafrul

KUALA LUMPUR: Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz has encouraged electric vehicle (EV) auto makers with Malaysian facilities to consider making Malaysia their hubs to supply and service the fast-growing EV market in Asean.

He said this is because the EV market in Asean is expected to grow at a compound annual growth rate of about 33 per cent from around US$500 million in 2021 to US$2.7 billion (RM11.77 billion) by 2027.