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More needs to be done for EV industry in Malaysia, says automakers

The government should adopt a more comprehensive policy to encourage electric vehicle (EV) manufacturers to make Malaysia an automated hub, say automakers. "I have to say that battery prices are high, and about 40% of the cost of EVs comes from the battery. Coupled with the impact of high raw material costs, I think we should take a longer-term view on this sector," Bermaz Auto Bhd group chief executive officer (CEO) and executive director Datuk Francis Lee Kok Chuan said at a virtual webinar of the "RAM Insight Series: The Malaysian Automotive Sector Is the Worst Over and Where Do We Go From Here?" on Wednesday (June 15).

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