Malaysia woos foreign automakers with new incentive

Malaysia woos foreign automakers with new incentive

The Malaysian government announced on January 20 that it will enable foreign automakers to build small energy-efficient passenger cars in the country with its revised National Automotive Policy (NAP).

The NAP is expected to boost the nation’s automotive industry and help Malaysia turn into a future energy-efficient vehicle hub in Southeast Asia , Trade Minister Mustapa Mohamed said.

The country aims to raise manufacturing output to 1.25 million cars by 2020, from 570,000 units in 2013, he added.

The revised National Automotive Policy 2014 aims to make Malaysia as the EEV hub and to fulfil the government’s commitment to reduce car prices by between 20 percent and 30 percent over the next five years.-VNA

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