Malaysia can become key hub to supply power chips to electric cars - PM

He said the power chips are key in energy transition and decarbonisation technologies.

For instance, EVs contain over 3,000 chips, two to five times that of internal combustion engine vehicles, he said.

"Through Malaysia's New Industrial Master Plan 2030 (NIMP 2030) and the National Energy Transition Roadmap (NETR), we already have the right policy enablers and incentives for companies wishing to manufacture them here," he said in his speech at SEMICON Southeast Asia 2024 conference here, today.

Moreover, Anwar said the government aims to have 40 per cent of Malaysia's primary energy mix from renewable sources by 2035.

This initiative aims to reduce carbon dioxide emissions by 10 million tonnes annually and achieve 100 per cent renewable energy by 2050.

"The government supports exploring new technologies like green hydrogen, nuclear technology, and large-scale energy storage to reduce dependence on fossil fuels and meet the targets of the 2016 Paris Accord," he said.

Starting this September, third-party access (TPA) will be allowed in the national electricity supply industry, enabling other parties to supply energy using Tenaga Nasional Bhd's transmission lines, reflecting high foreign investor interest in Malaysia, he added.

-- BERNAMA