Local Market Outlook
Malaysia’s electric vehicle (EV) market is gearing up for explosive growth, making it a hotspot in Southeast Asia’s green mobility revolution. According to the International Energy Agency (IEA) and insights from EY, Malaysia’s EV sector is projected to grow at a 13.2% CAGR between 2025 and 2031, fueled by national incentives, consumer demand, and private sector investments.
The Malaysian government targets 10,000 public EV charging stations by 2025, directly supporting the Low Carbon Mobility Blueprint 2021–2030. This infrastructure boom is expected to ease consumer concerns about range anxiety, a major barrier to EV adoption.
Recent surveys by EY reveal that 25% of Malaysian consumers are considering an EV for their next vehicle purchase, driven by rising fuel prices and sustainability concerns. Additionally, local manufacturers such as Proton and Perodua are preparing to launch affordable electric models by late 2025, expanding the accessibility of EVs across Malaysia.
As Malaysia positions itself as a strategic player in the EV market, events like Revolution EV 2025 offer an unmatched platform to engage, connect, and shape the future of mobility in the region.
Global Market Outlook
The global electric vehicle market is experiencing unprecedented growth, transforming transportation systems worldwide. According to the IEA’s Global EV Outlook 2024, EVs are expected to represent 20% of total global car sales in 2024, with projections to hit 50% by 2035.
China leads the world in EV adoption, with nearly 40% of new car sales being electric and exports of 1.2 million EV units in 2023, an 80% year-over-year increase. Meanwhile, Deloitte predicts that by 2030, global EV sales will surpass 31 million units annually, led by strong performance in Asia-Pacific, Europe, and North America.
In the United States, EVs captured 10% of new vehicle sales in 2023, according to U.S. Department of Energy data, though policy shifts may influence growth trajectories moving forward. Europe faces heightened competition from Chinese EV manufacturers, requiring strategic adjustments to maintain its green transition momentum.
The International Monetary Fund (IMF) forecasts that this electric shift will reshape global supply chains, impact GDP structures (with Europe's GDP potentially dipping by 0.3%), and redefine employment landscapes across the automotive sector.
As the EV revolution accelerates worldwide, Revolution EV 2025 provides critical insights into new technologies, evolving policies, and business opportunities in the global EV ecosystem.
Why Malaysia
With its proactive policies and expanding infrastructure, Malaysia is quickly becoming a critical hub for EV growth in Southeast Asia as the shift from mobility to e-mobility becomes more evident in the face of increasing climate challenges.
Government Policies
The Malaysian government’s pro-EV policies, such as tax incentives for EV manufacturers and consumers, expansion of charging infrastructure, and efforts to strengthen Malaysia as a regional EV manufacturing hub, have significantly accelerated the adoption of EVs.
Focus on Sustainability and Green Innovation
Malaysia’s innovation trajectory is gaining momentum, with a strong focus on funding for startups, EV manufacturing, and the expansion of charging infrastructure, transforming the country into a dynamic hub for sustainable mobility and tech-driven growth.
Advanced Infrastructure Technologies
Better EV performance and cost are being driven by advancements in battery technology, and the most recent developments in the Malaysian market are creating exciting prospects for the e-mobility sector.
Vehicle to Grid Integration
Vehicle to Grid (V2G) allows electric vehicles to send power back to the grid whenever needed. As Malaysia accelerates EV adoption, V2G can play a key role in integrating energy and technology.
Smart Mobility Solutions for Smart Cities
Malaysia’s strategic move to integrate e-mobility with smart technologies such as IoT and AI aims to create a more efficient, sustainable, and interconnected transportation system.