Electric vehicles (EVs) are gaining momentum all around the world, with China at the forefront of this shift toward eco-friendly transportation.
Geely Holdings Group’s global communications lead, Ashley Sutcliffe said that once drivers switch to EVs, “they won’t go back to petrol”, underscoring the market’s transformative potential.
“It’s like buying a car and then going back to a horse. It’s really uncomfortable. I easily drove 3,000km on a road trip and the electricity bill was CN¥415 (approximately RM255). In a petrol car, that would have been at least CN¥1,500. Petrol here is twice the price of (that in) Malaysia, making it very expensive to use,” he said.
Sutcliffe revealed that EVs have accounted for 53% of China’s monthly car sales in recent months, equivalent to around 2 million units each month – which is a sign of rapid public acceptance and rising demand.
He noted that this surge is driven by extensive charging infrastructure and affordable prices.
Early EV models that were priced at CN¥500,000- CN¥600,000 are now available for as low as CN¥30,000, making them more accessible to a broader market and fuelling their popularity.
“So, once you have the scale, the price drops down, adoption goes up,” he said, adding that Malaysia’s EV market also hold promise, despite still being in its infancy.
The Malaysian government’s National Energy Transitional Roadmap (NETR) aims for EVs to make up 80% of the nation’s industry volume by 2040, with plans to establish 10,000 charging stations by 2025 and increase EV numbers to 500,000 by 2030.
Having that in mind, Sutcliffe believes that Malaysia’s renewable energy (RE) resources such as solar, wind and hydro will ease EV infrastructure development.
“I believe this country will be a new energy leader in the future,” he said, highlighting Malaysia’s RE potential while also stressing the importance of government initiatives in kickstarting infrastructure.
Meanwhile, Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz announced that the number of electrified vehicles (xEVs) manufactured in Malaysia reached 33,319 units as of 30 September 2024, representing about 5% of the total industry volume (TIV).
xEVs include battery EV (BEV) – that accounted for about 15,000 units of the total xEVs –plug-in hybrid EV (PHEV), hybrid EV (HEV) and fuel cell EV (FCEV).
“The government views the use of HEVs and PHEVs as still relevant to achieving the targets set by the government, as these EVs support the country’s ambition to achieve net zero carbon emissions by 2050,” he said, highlighting the government’s target of achieving 20% of the annual total of new vehicles being xEVs by 2030.
The minister also shared that 4,984 applications for the Electric Motorcycle Usage Encouragement Scheme (MARiiCas) have been approved and the programme will end on 31 December this year.
Through the programme, Malaysians with an annual income of RM120,000 or below will be given a cash rebate of RM2,400 for motorcycle purchases and RM200 per month for 12 months for subscription applications.
This rebate scheme is designed for the purchase or subscription of electric motorcycles by the Malaysian Automotive Robotics and IoT Institute (MARii) under Budget 2024, aimed at encouraging the public to switch to electric-based vehicles.
“If it continues, many will benefit and have the opportunity to use EV technology at an affordable price,” he added.
