KUALA LUMPUR (Oct 16): A total of 6,617 battery-powered electric vehicles (BEVs) were sold in the first half of 2024 (1H2024), marking a significant 112% year-on-year surge in the electric vehicle (EV) market, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

He said 3,117 units of BEVs were sold in 1H2023.

“So I think we should be on track to meet our target of having 20% of total industry volume (TIV) comprising EVs by 2030.

“This remarkable growth not only signals our consumers’ growing interest, but also demonstrates Malaysians’ general buy-in to contribute to the national and global environmental agendas,” he told reporters after the launch of Stellantis x Leapmotor C10 SUV here on Wednesday.

Regarding charging stations, Zafrul said that as of Sept 30, 2024, more than 3,171 charging stations have been installed nationwide, including 813 DC fast chargers.

“We hope to reach our goal of 10,000 charging stations by end-2025,” he added.

He said the automotive industry remains a vital pillar of Malaysia’s economic growth, contributing an impressive 4% to 5% to national gross domestic product (GDP) annually, and supporting over 700,000 jobs.

In 2023, Malaysia's automotive sector recorded total import value of RM62.14 billion, with RM37.15 billion attributed to the import of automotive parts and components.

On the export side, the sector recorded total value of RM18.01 billion, with RM13.26 billion from exports of automotive parts.

“The significant disparity between imports and exports has led to a trade deficit for the sector,” he noted.

He said that as the world’s fourth-largest automaker and a leading mobility solutions provider, Stellantis’ choice of Malaysia as the first market in Southeast Asia for Leapmotor reflects the confidence that global players have in the country’s growing role as a hub for new energy vehicles.

“I was thrilled when Stellantis announced its decision to establish Malaysia as a regional manufacturing hub as part of its ‘Built in Asean for Asean’ strategy, alongside a regional headquarters for Asia Pacific. I am optimistic that this decision will significantly boost our automotive industry, facilitate advanced technology transfer and enhance our exports,” he said.

Stellantis on Wednesday unveiled its new all-electric SUV, the C10, marking its first major entry into the Southeast Asian market with its launch in Malaysia.

The C10 is part of Leapmotor International, a 51:49 joint venture between Stellantis and Leapmotor.

The all-new electric Leapmotor C10 is offered at a limited-time introductory price of RM149,000 on the road, excluding insurance, for bookings made until Nov 30, 2024. After this period, the price will be set at RM159,000.

It is available in four exterior colours — glazed green, pearly white, canopy grey, or Tundra grey — and two interior options: criollo brown (exclusive to glazed green) and midnight aurora.

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