‘EEV penetration rate to hit 80pc by 2022’

BATU KAWAN: The penetration rate of energy-efficient vehicles (EEVs) in the country is expected to reach 80 per cent of total industry volume (TIV) by 2022.

Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan said this was 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 per cent in 2022,” he said after the Boon Siew Honda Motorcycles 60th Anniversary and its five million unit cumulative production celebrations, here, on Monday.

Ong said the EEV penetration rate was expected to be ramped up to as much as 50 per cent of TIV by year-end, after hitting 42.8 per cent last year.

He 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.

Ong commended Boon Siew Honda for its effort in promoting the EEV initiative as it had 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.

Ong said Boon Siew Honda had started the development process to introduce hybrid electric vehicles next year and electric vehicles in 2020 in its effort to continue producing reliable, economical and affordable motorcycles for Malaysians.

“We anticipate an uptrend in the automotive and motorcycles industry next year, especially in the EEV segment,” he said.