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  • Electric Vehicle Financing >
  • Electric Vehicles (EVs): The Myths, The Realities, and The Future
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Electric Vehicles (EVs): The Myths, The Realities, and The Future

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The electric vehicle (EV) industry in Malaysia is gaining momentum, with more consumers considering the switch to electric mobility. However, there are

still misconceptions surrounding EVs that need to be addressed. In this article, we will debunk some of the

common myths about EVs and look into upcoming initiatives.

 


 

 

Debunking EV Myths
Latest Trends and Developments
The Future of the EV Industry

Debunking EV Myths

Let’s address some common myths about EVs and set the record straight.

Fact: In reality, EV technology has advanced significantly. Many of these models now are able to offer ranges between 200 KM and up to 600 KM, which allows you to comfortably cover your daily commutes1.

[1]       “Electric Car Range: Everything You Need to Know”, ZeCar, 2023, Link: https://zecar.com/resources/range-of-electric-cars  

Fact: EVs have lower operating and maintenance costs, making them more affordable in the long run. Charging EVs is also cheaper than refuelling petrol vehicles, so the higher upfront cost can be offset by substantial long-term fuel savings.

Fact: Most batteries are designed to last for several years - typically around 12 to 15 years2 or more before reaching a point where they retain around 80-85% of their original capacity3. Manufacturers often provide warranties that cover a certain number of years or distance travelled.

[2] “Electric Car Battery Life: Everything You Need to Know”, Car and Driver, 2022, Link: https://www.caranddriver.com/research/a31875141/electric-car-battery-life/   

[3]  “Focus: A second life for EV batteries? Depends how long the first is”, Reuters, 2023, Link: https://www.reuters.com/business/autos-transportation/second-life-ev-batteries-depends-how-long-first-is-2023-06-26/

Fact: Malaysia is expanding its public charging station network with over 900 charging stations as of March 20234, conveniently located at highways, shopping centres, and workplaces. Governments and private entities are investing in infrastructure development with the aim of installing 10,000 charging stations by 2025 as part of the Low Carbon Mobility Blueprint5.

[4]  “Electric dreams: What is needed to accelerate EV growth in Malaysia?”, Eco-Business, 2023, Link: https://www.eco-business.com/news/electric-dreams-what-is-needed-to-accelerate-ev-growth-in-malaysia/   

[5]  “Ramping up Malaysia’s EV ecosystem”, Malaysian Investment Development Property (MIDA), 2023, Link: https://www.mida.gov.my/mida-news/ramping-up-malaysias-ev-ecosystem/   

Fact: While traditional home charging with AC chargers of lower voltages may take longer, if your budget permits, there are options for high voltage chargers for fast charging. Charging times for EVs vary depending on the charging types, power voltages of the chargers and also the voltage that your EV can handle.  

Fact: EVs produce zero tailpipe emissions, making them significantly more environmentally friendly, as they do not emit greenhouse gases and other pollutants. Studies have shown that EVs can reduce emissions by 30% to 50% over their lifecycle6. By transitioning to EVs, we can reduce our carbon footprint and contribute to cleaner air and a healthier environment.

[6]      “Drivers and barriers of electric vehicle usage in Malaysia: A DEMATEL approach”, Resources, Conservation and Recycling, Volume 177, February 2022, 105965, Shahla Asadi, Mehrbakhsh Nilashi, Mohammad Iranmanesh, Morteza Ghobakhloo, Sarminah Samad, Abdullah Alghamdi, Ahmed Almulihi, Saidatulakmal Mohd, Link: https://doi.org/10.1016/j.resconrec.2021.105965  

Fact: EVs have simpler drivetrains with fewer mechanical components, resulting in reduced chances of breakdowns and fewer parts to maintain. This offers a high level of reliability, often requiring less frequent servicing. Moreover, many EV manufacturers provide extensive warranties on their battery systems and drivetrains, ensuring peace of mind for EV owners.

 

 

Latest Trends and Developments

Advances in EVs are happening worldwide, and Malaysia is no exception.

The government is creating a greener economy, diversifying away from oil dependency. Let’s have a look at some of them.

  • There has been an increase in the variants of EV models that are available in Malaysia.
  • Tech developments in areas such as battery development have been given more focus to ensure safer, easier and faster recharging.
  • Efforts are being made to identify ways to generate power through clean sources such as wind energy, solar power, and geothermal energy.
  • In 2020, the National Automotive Policy 2020 was established, which outlines measures that encourage manufacturers to introduce more affordable EVs locally.
  • Organizations are building electric car infrastructures in Malaysia, including charging points, to support wider use of zero emission vehicles.
  • There has been a spur in conducting more research around green transportation, which has placed Malaysia among Asia Pacific leaders.
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The Future of the EV Industry

It looks promising, as the government has set ambitious targets to accelerate the adoption of EVs and reduce emissions through renewable energy integrations. Multiple initiatives are set in place to support this growth.

  • The National Electric Mobility Blueprint (2015 - 2030) aims to achieve low emissions through a set of achievable targets for electric vehicles.
  • The Green Investment Tax Allowance is providing support to those that are looking to purchase an EV.
  •  Battery recycling programmes are being implemented in the country with the aim to ensure that batteries are safely disposed of instead of ending up in the landfills.
  •  Valuable materials such as lithium, cobalt, and nickel are being reused in new battery production, reducing the demand for virgin resources.

 

 

With all the myths debunked, followed by upcoming initiatives from government agencies and organizations, Malaysia is set to be an exciting hub for electric mobility. Embrace the future of transportation, reduce your carbon footprint, and join the EV revolution.

 

 

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