NAP 2020 targets 1.22 million TIV, RM12.3 billion in exports by 2030 – 323,000 new jobs to be created
As part of the launch of the new National Automotive Policy (NAP) today, the Ministry of International Trade and Industry (MITI) has released its targets over the next 10 years.
Among other things, the ministry hopes to grow the total industry volume to 1.22 million units by 2030. This would represent a substantial 101.9% increase over last year‘s 604,297 units, while the targeted total production volume of 1.47 million units would be a whopping 157.2% up on 2019’s 571,632 units.
The ministry is clearly banking on an increase in exports of completely built up (CBU) vehicles, which are expected to bring in RM12.3 billion in ten years. All in all, MITI targets a contribution of RM104.2 billion from the automotive industry to Malaysia’s gross domestic product (GDP) by 2030.
Exports of locally-made components are also expected to rake in RM28.3 billion fo new automotive parts and RM10 billion for remanufactured parts. In terms of employment, MITI says the NAP 2020 should create 323,000 new jobs, including 128,000 in manufacturing, 46,000 in the aftermarket, 30,000 in the robotics sector, 44,000 in the Internet of things (IoT) sector and 75,000 in the mobility-as-a-service (MaaS) sector.
Also listed are the creation of new research and development facilities, including a full-fledged Vehicle Type Approval (VTA) testing centre, an Electric Vehicle Interoperability Centre (EVIC), an autonomous/automatic vehicle test bed, a virtual design centre, an additive manufacturing (i.e. 3D printing) design centre, a robotics and artificial intelligence centre, a big data analytics (BDA) centre, a digital twin centre and a technology academy in the field of automobiles and overall mobility.
The broader strokes of NAP 2020 were revealed today, with seven roadmaps having been detailed in the field of Next Generation Vehicles (NxGVs), Mobility as a Service (MaaS) and Industry 4.0. The plan will also incorporate the development of Automated, Autonomous, Connected Vehicles (AACV), lightweight material technology as well as hybrid, electric and fuel cell vehicles. Read more here.
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