Malaysia keen on Japanese hybrid tech

Source TheStar

KUALA LUMPUR: Japanese automakers should explore the hybrid car market potential in Malaysia, says International Trade and Industry Minister Tan Sri Muhyiddin Yassin.

He said in Budget 2009, the Government had proposed a 100% exemption of import duty and a 50% exemption of the excise duty on new completely built-up units of hybrid cars.

”What we hope now is for the Japanese automakers to explore the hybrid car market potential in Malaysia.

“We want them to consider Malaysia as a production base for hybrid engines in the future,” he told reporters after delivering the keynote address at the Malaysia-Japan Business Forum yesterday.

Malaysia was keen to learn hybrid technology from Japanese automakers, he said, adding that during his trade and investment mission to Japan in July, he had met the top management of Toyota and Honda to discuss the matter.

”We are offering Malaysia as a first choice destination for Toyota and Honda to expand to. We are even prepared to discuss with them any customised incentive that they might want to propose.

”I think the future of hybrid cars, electric cars or anything that is energy efficient is rather bright, and we want to be part of the industry as well,” he said. €” Bernama

Later at the Malaysia-India CEO Forum, Muhyiddin said although India was Malaysia’s top trading partner within the South Asian region last year, total trade was still low in absolute terms.

He said trade with India was US$7.88bil, which accounted for only 2.5% of Malaysia’s global trade last year.

From January to June this year, bilateral trade totalled US$5.33bil and it was expected to reach US$10bil by the end of the year, he said adding that even this figure was still relatively low.

Muhyiddin said there was big potential for greater Indian participation in Malaysia’s development, particularly in information and communication technology, machinery and engineering, pharmaceuticals, and biotechnology