Malaysia is doubling down on the chip industry to capture growth in EVs
Publishing timestamp: 2024-01-10 23:05:50
Summary
Malaysia is focusing on the semiconductor industry to capture growth in the electric vehicle market. The country has set up a national semiconductor taskforce to move up the value chain in the chips industry. EV makers are procuring components from Malaysia and there is a goal to expand their presence in the country. Malaysia aims to attract EV manufacturers like Tesla to build their giga factory assembly in the country. The semiconductor industry is vital for Malaysia's electrical and electronics sector and accounts for 7% of the country's GDP and half of its exports. The taskforce will also focus on ensuring a talent supply chain in the country. Malaysia has a strong foundation in the semiconductor industry and is in a good position to grow.
Sentiment: POSITIVE
Tickers: TSLA,
Keywords: business news, renewable energy, breaking news: technology, technology,