EVs set to catalyse local automotive scene

Affin Hwang Research said that by 2025, it expects EV adoption to rise to 80% compared with the current adoption of 5% or 33,319 units of TIV as at September this year.

PETALING JAYA: Competition in the automotive sector is expected to heat up as Malaysia aims to raise electric vehicle (EV) adoption to 15% of total industry volume (TIV) by 2030 compared with 5% as of September 2024.

According to Affin Hwang Investment Bank Research (Affin Hwang Research), advancements in battery technology and safety, advanced EV safety features and transition to a low-carbon economy have resulted in greater motivation to adopt EVs.