1 week Ago By Azanis Shahila Aman
KUALA LUMPUR: The automotive industry contributes five per cent or RM82 billion to Malaysia's annual gross domestic product (GDP), and employs a workforce of over 700,000 throughout a nationwide ecosystem.Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the sector is among the largest in Asia, with nearly 40 manufacturers and over 700 component suppliers.Malaysia's total industry volume, meanwhile, reached a record 816,747 units in 2024, up 2.
13 per cent from 2023, surpassing the 800,000-unit mark for the first time."This extraordinary growth demonstrates the resilience and dynamism of our automotive market, even amidst global economic uncertainties," Tengku Zafrul said at the launch of the new Jetour Dashing SUV hdere today.His speech was delivered by the ministry's deputy secretary general for industry Datuk Hanafi Sakri.
Nevertheless, Tengku Zafrul said more efforts are needed to boost Malaysia's automotive exports, given that the sector has been facing a trade deficit for over 40 years.According to him, in 2024, the sector recorded a total trade value of RM70.29 billion, of which RM54.
33 billion was for import and RM15.96 billion for export of motor vehicles, motorcycles and parts and components."To address this significant trade deficit, promoting exports is one of the key strategies, alongside attracting foreign investment into the country and overcoming non-tariff barriers," he added.
Tengku Zafrul expressed his pleasure at Jetour's growing presence in Malaysia, noting the brand's strong commitment to supporting the nation's automotive goals through several key initiatives.He said the introduction of models such as the Dashing, which brings advanced design and technology to consumers, is aligned with the government's aim to ensure Malaysians have access to quality vehicles that meet their lifestyle needs."Jetour is also committed to making Malaysia a hub for manufacturing and research and development (R&D) for the Asia Pacific region, in line with our national goal of becoming a regional automotive hub.
"Most importantly, Jetour is confident in creating more than 3,000 jobs across various sectors, including manufacturing, engineering, sales, and after-sales services, contributing to our objective of developing a skilled workforce for the demands of Industry 4.0," he added.The same event also saw the signing of a memorandum of understanding (MoU) between Berjaya Asset Bhd and Jetour Malaysia Sdn Bhd, marking an important collaboration for the local assembly of the Chinese brand in Malaysia.
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