As a pioneer in Southeast Asia’s electric vehicle revolution, Blueshark Ecosystem is leading the way in the transition to two-wheeled vehicles, aligning with the green mobility agenda and net-zero targets of the Malaysian government.
Using clever smart mobility and swappable energy solutions, Sharkgulf Technologies Group, a Chinese business with a Malaysian affiliate, has rapidly become a leader in green transport technology. According to the business, the goal is to both save the environment and revolutionise human mobility.
According to Jin Chan, Group Chief Operating Officer for the ASEAN area, said, “Electromobility is not only a goal; it is a significant shift towards a more liveable future, and we intend to be at the forefront of this movement – providing creative and sustainable solutions for the two-wheelers category.”
He continued, “Blueshark is ready for an electrifying future as a firm that helps other organisations to reach their own ESG and green mobility goals. Change starts with ideas, but genuine, lasting transformation comes with practice.”
According to Blueshark, battery-swapping technology is essential for overcoming obstacles including lengthy recharge periods, range anxiety, and battery lifecycle management, and for hastening the adoption of electric motorcycles throughout Asia.
With the help of regional partner EP Manufacturing Berhad, the business is turning Malaysia into the centre for the production and assembly of Blueshark goods for the whole ASEAN market. The region currently has 220 million motorcycles with internal combustion engines, but by 2030, it hopes to replace them with electric vehicles (EVs).
As a microcosm of the larger ASEAN market as well as a manufacturing powerhouse, Malaysia is essential to our regional base of operations, according to Chan.
“With the assistance of an innovative administration and industry advocates, it presents a perfect climate for the development of EV infrastructure and supply chain,” he said.
Chan stated that “EV adoption and the decarbonisation of the transportation industry have been strongly encouraged by the Malaysian government’s measures and tax incentives for the sector.”
“Policy and incentives are helping many countries accelerate the transition to electric vehicles (EVs), and with governments throughout the region showing a growing commitment to environmental sustainability, the EV agenda is becoming a mandate rather than a nice to have,” cHAN with corporate leadership playing a key role in this,” he stressed further.
2023 EV Conference
In February 2024, Kuala Lumpur hosted the inaugural national EV Conference, which brought together over 300 attendees from various industries, including vehicle developers, component manufacturers, traditional automakers, and related businesses, demonstrating Malaysia’s support for the industry.
MIDA CEO Datuk Wira Arham Abdul Rahman stated, “The response to the event was overwhelmingly positive, with many urging for the conference to become an annual occasion for the sector to congregate and share updates on progress in EVs.”
“To accelerate the growth of EV development in Malaysia, it is critical to have a concerted effort from all key players across the value chain, including manufacturers, legislators, property developers, infrastructure providers, and end-users,” he stated.
According to Datuk Wira Arham, recent initiatives, such as the formation of the National Electric Vehicle Task Force, will be beneficial. Furthermore, due to the sector’s and related sectors’ enthusiasm, Malaysia aims to achieve its 2030 objective of 15% electric vehicles and 10,000 operational EV chargers by 2025.
Governmental Campaigns
While Malaysia has ambitious aspirations for other sectors of its industry and society, the transport sector cannot afford to ignore the importance of green technology adoption.
The Malaysian Green Technology and Climate Change Corp is championing the Low Carbon Cities 2030 Challenge targets through various initiatives in the manufacturing, building, water, and waste industries.
Along with this, Kuala Lumpur has pledged to meet the Paris Agreement’s target of keeping global warming to 1.5 degrees Celsius by reducing its carbon intensity to 45% of the level in 2005 by the end of this decade.
Hydrogen-Filled Container
As per MIDA CEO Datuk Wira Arham Abdul Rahman, “the utilisation of hydrogen energy is considered a highly auspicious approach for Malaysia to sustain its economic growth while mitigating the ecological consequences of trade.”
“Many industrial industries, including chemicals, glass, electronics, metallurgy, and textile fibre manufacturing, have used hydrogen,” he stated, while adding,
“Hydrogen is a fantastic energy source and will be crucial to the decarbonisation of many industries, including steel, cement, and transportation.”
The Malaysian government is now finalising its national hydrogen policy and businesses that transition are likely to qualify for increased tax exemptions and allowances.
“Malaysia will be able to become a major player in the hydrogen economy thanks to its strategic location and plentiful renewable energy sources, which include solar, hydro, and ocean thermal energy,” stated Datuk Wira Arham.
“We think Malaysia will see an increase in both local and foreign investment in the near future in the hydrogen economy ecosystem, including in materials, production, R&D and technology, storage, and transportation,” Arham stated further.
More generally, the country’s New Investment Policy aims to encourage backing for growing green economy sectors and move industries toward increased ESG implementation.
The available measures encompass workforce training, the creation of sustainable financing models, which include grants to finance research and development in new green technologies and incentives for adopting them, as well as new standards and regulations for ESG disclosures.
Notably, the strategy also suggests measures to encourage investment in green growth sectors like electric vehicles, hydrogen technology, and bioenergy.
EV Energy
The director of local operations for EVE Energy, based in China, Joe Chan, is forthright in his evaluation of Malaysia’s assistance.
“Our company has been able to grow here thanks in large part to the support of the Malaysian government,” he stated.
“We value MIDA’s dedication to promoting robust commercial relations between China and Malaysia. We appreciate the provision of a profit-tax exemption as well as the legal assistance that has enabled us to successfully handle challenging local legal matters,” Chan commented.
Power Source
“Without MIDA’s assistance, we could not have been successful,” Chan continued.
With clients in Malaysia and throughout Southeast Asia, EVE plans to invest around USD 422.3 million in building a cylindrical battery production plant to assist companies that produce power tools and two-wheeled electric vehicles.
“We cannot compromise on the quality of our products, and our consumers are very cost-conscious, so the financial incentives available in Malaysia were quite enticing to us when we were considering our first investment in Southeast Asia,” Chan said.
“The need for high-performance batteries is growing, and government assistance for battery production facilities is becoming more and more crucial,” he stated.
The business currently expects a smooth transition to battery production. When the time is right, EVE plans to collaborate closely with Malaysian authorities on phase-two development, which may involve expanding operations, boosting efficiency, and introducing new infrastructure and technologies.
An Eco-Friendly Future
Malaysia has unveiled comprehensive policies and plans aimed at achieving the best possible results for businesses and the environment, as part of its commitment to become a regional leader in the green economy.
Businesses, both local and foreign, can now make use of the resources available to establish their headquarters in a vibrant country at the centre of a continually developing and expanding area.