The EV project, along with 2 other projects consulted by MIER, is expected to be launched in mid-October, says chairman

by SHAHEERA AZNAM SHAH/ pic by MUHD AMIN NAHARUL

MALAYSIA’S first electric vehicle (EV) is expected to roll out in the first quarter of 2021 (1Q21) with a targeted annual production of 50,000 units.

Malaysia Institute of Economic Research (MIER) chairman Tan Sri Kamal Salih (picture) said the project developer has completed the business plan and is currently identifying the land site for a manufacturing plant.

“The project owner has already completed the business plan and they have managed to convince investors to put money in. At the moment, the project developer is in the process of approving the concept and identifying the land for the smart factory.

“The (electric vehicle) EV will be based on Japanese technologies, and it is targeted that 50,000 vehicles can be produced per year for the global and domestic markets,” he told reporters at the signing of memoranda of understanding under MIER’s Crouching Tiger Research Plan in Kuala Lumpur yesterday.

Kamal said the EV project, along with two other projects consulted by MIER, is expected to be launched in mid-October.

“The target is to launch it on Oct 15, but it might be delayed as we have two other big projects to reveal; a national data centre and waste to energy project.

“The project developer will reveal two prototypes of EV at the groundbreaking,” he said.

In July, Kamal said a local firm has invested RM5 billion in building a smart manufacturing plant for EV production on a 161.87ha site at the Enstek Industrial Park, Negri Sembilan.

The project, approved by the Prime Minister’s Office, is being developed by the local firm and its strategic partner, Elenvi Otomotif Sdn Bhd, which will act as the special-purpose vehicle company for the project.

Separately, MIER is partnering with seven firms under its “Crouching Tiger Research Plan”, which is expected to execute US$42 billion (RM176.4 billion) worth of projects in the next five years.

The seven partnerships are in addition to the 22 MoUs that the research house had signed in July to assist the government and private sector in achieving the Shared Prosperity Vision 2030.

The partnerships are mainly focusing on the development of electric car, palm-based biojet fuel, hyperloop freight transport, hydrogen economy, agrodome technologies and digital economy.

Kamal added that all the projects consulted under the “Crouching Tiger Research Plan” will be funded through private investment.