KUALA LUMPUR, — Japanese automakers should explore the the hybrid car market potential in Malaysia, said International Trade and Industry Minister Tan Sri Muhyiddin Yassin.
He said in the Budget 2009, the government had proposed a 100 percent exemption of import duty and a 50 percent exemption of the excise duty on new completely built-up units (CBU)), 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 here Monday.
Muhyiddin said Malaysia was keen to learn hybrid technology from Japanese automakers.
He said, during his trade and investment mission to Japan in July this year, 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.