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INTRODUCTION
The greatest distinction between electric cars (EVs) and internal combustion engines (ICEs) is that in EVs, the motor is cycled using electricity stored in the battery rather than burning fossil fuel as in ICEs.
As a result, EVs do not require the engine or gearbox, two of the most important parts of internal combustion engines. Instead, EVs contain a number of electric power-related parts, including the electric motor, battery, onboard charger, and the electric power control unit (EPCU). All are crucial parts for converting the power from the battery into the kinetic force that propels the EV ahead.
The continued introduction of new models and the Malaysian government’s EV initiatives support the expansion of the EV market there.
The Malaysia EV Components Market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.
A well-known automaker, Volvo Car Malaysia Sdn. Bhd. unveiled the company’s electrification goal to create its first built electric car (EV). At its production site in Shah Alam, Selangor, the firm intends to produce the Complete Knocked Down (CKD) unit of an electric vehicle (EV). Volvo Car Malaysia will be the first automotive manufacturer in Malaysia that has a completed plug-in hybrid (PHEV) range for all car types.
By exporting the domestically made XC40 Recharge Pure Electric model to the ASEAN market, the business intends to maintain its position as a pioneer in the early automotive electrification program.
Malaysian electric cable producer Ta Win Holdings is expanding into the electric vehicle (EV) supply chain with the launch of new automotive goods comprising wiring, connectors and other related items. The company had invested extensively in this new business area and was quite excited about its development prospects as a provider of EV electrical parts.
