Ministry aims to attract RM20bil in EV investments

KUALA LUMPUR: The International Trade and Industry Ministry aims to attract RM20bil in investments in electric vehicles (EV) by 2025.

Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the ministry is also targeting investments to rise to RM40bil by 2030.

“We need to look at the EV ecosystem and the supply chain as a whole and we will also discuss efforts to further strengthen the EV industry through further discussions with the task force,” he said after witnessing the memorandum of agreement signing ceremony between Artroniq Bhd and US-based Beno Inc yesterday.