KUALA LUMPUR – Volvo Car Malaysia Sdn Bhd has unveiled its electrification plan, announcing that it will produce its first assembled electric vehicles (EV) by manufacturing completely knocked down EV units at its facility in Shah Alam, Selangor.
The carmaker will be the first automotive brand in Malaysia that has a completed plug-in hybrid line for all car models.
Volvo Car Malaysia managing director Charles Frump said the company is ready to implement its global plan for a fully electric line-up by 2030, starting with the launch of the XC40 Recharge Pure Electric model.
He noted that the XC40 Recharge Pure Electric model was just one of Volvo Car Malaysia’s many steps to encourage consumers to adopt EVs for a more sustainable future.
“By mid-decade, Volvo aims to reduce its overall carbon dioxide (CO2) lifecycle emissions per car by 40%. This means more than simply reducing tailpipe emissions – electrification is not enough. We must also reduce CO2 emissions across our operations and supply chain,” he said in a statement today.
Malaysia is the third largest automotive market in Asean, making the automotive industry a strategic part of the country’s manufacturing sector.
There are currently 28 manufacturing and assembly plants in Malaysia producing motor vehicles as well as automotive parts and components.
Malaysian Investment Development Authority (Mida) chief executive officer Datuk Arham Abdul Rahman said Volvo Car Malaysia’s project would encourage similar investments in line with the government’s National Investment Aspirations and environmental, social, and governance goals.
“Moving forward, we hope to develop our very own EV industry and its ecosystem,” he added.
As of 2021, MIDA had approved 36 projects within the energy-efficient vehicle ecosystem with approved investments amounting to RM1.9 billion.
Most of the approved investments were from foreign sources amounting to RM1.1 billion (58%), while the remaining RM0.8 billion (42%) were from domestic direct investments. – Bernama, March 18, 2022
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