Malaysia aims to become primary hub for supplying power chips to EVs

Malaysia aims to solidify its position as a key player in the electric vehicle ecosystem by becoming a primary hub for supplying power chips to EVs, said Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said the semiconductor sector plays a crucial role in Malaysia’s economy in terms of exports and trade. “This sector accounts for 40% of the total exports in the electrical and electronics sector,” he added. “Thus, this industry will continue to grow, not only in terms of its use in EV power chips but also with the rise of generative AI and other technologies. This sector is expected to grow, and by 2030, it is projected to be worth around US$1 trillion . So, what’s happening is significant,” he stressed.

“Through Malaysia’s New Industrial Master Plan 2030 and the National Energy Transition Roadmap, we already have the right policy enablers and incentives for companies wishing to manufacture them here,“ he said in his speech at SEMICON Southeast Asia 2024 conference.

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