As of October 2022, 2,093 EVs were registered in Malaysia. Though this figure seems to be quite modest (to clarify, in 2021 the country's population reached 33.5 million people and around 500,000 EVs were sold annually), here is the dynamics that matters. So far, the Malaysian EV market has been developing rather slowly, but 2023 should actually be a breakthrough year.
The Malaysian Automotive Association (MAA) predicts that this year, the demand for electric cars will grow by 43%, which will amount to approximately 4,449 cars sold per year. Such changes will be possible due to the state benefits and incentives for EV owners and EV market players. In particular, these are exemption from excise duty and suspension of customs dues, immunity from sales tax and road tax, as well as the introduction of subsidies.
In this context, the development of charging infrastructure becomes crucial. As of August 2022, there were 600 EV charging stations in Malaysia, which is not enough to meet the needs of the large EV market. Recognizing gaps and infrastructure development needs, the Malaysian government has pledged to build 10,000 EV charging stations by 2025 in collaboration with local companies.
Therefore, the Malaysian EV charging market has already steered towards active development. The GO TO-U platform aims to ensure seamless EV charging and provide EV drivers from all over the world with a comfortable, confident, and simple charging experience. So, we are excited to announce that our solutions are being introduced in Malaysia.
Several charging locations based on our software has already been working in this country. Among them is the GO TO-U Charging Hub (GO TO-U Lifestyle Hub).
Additionally, installed fast charging stations with a capacity of 90 kW each, in partnership with Tenaga Nasional Berhad, benefits from our operating system.
TNB (Tenaga Nasional Berhad) is the national operator of the Malaysian energy market, focusing on the development of a fast charging station network under its own brand TNB Electron. TNB Electron chargers are located mainly along highways and their capacity reaches 90 kW each.
The TNB Electron includes chargers with an average power from 22 to 60 kW. Such stations are primarily located in areas where EV drivers are concentrated, i.e. near shopping and entertainment centers, restaurants, car dealerships, etc.
As part of this cooperation, GO TO-U will provide charging management software that forms the basis for a high-quality and convenient charging service. In addition, the GO TO-U Charging Hub is connected to the GO TO-U app with a unique proactive reservation function, which makes the charging service even more convenient and reliable.
Notably, the GO TO-U app features other charging stations, which are available for reservation.
As you can see, GO TO-U is actively participating in the development of the Malaysian charging infrastructure with fast charging station networks being the priority.
TNBX believes that the partnership with GO TO-U should strengthen the charging infrastructure market and accelerate the development of the charging station network, which will "boost the confidence of prospective EV owners".
GO TO-U will further contribute to the active development of charging infrastructure in Malaysia. More news to come! Stay tuned!
