NCER explores EV, automotive investments as part of RM470bil target
PUTRAJAYA: The Northern Corridor Economic Region (NCER) is exploring opportunities in the electric vehicle (EV) and automotive sectors as part of efforts to diversify investments beyond its strong electrical and electronics (E&E) and semiconductor base.
The Northern Corridor Economic Region (NCER) is investigating prospects in the electric vehicle (EV) and automotive industries as part of its plan to broaden investments beyond its existing strengths in electrical and electronics (E&E) and semiconductors. NCER Chief Executive Datuk Mohamad Haris Kader Sultan revealed that the allocation of the RM470 billion investment target by 2030 for the automotive sector has yet to be confirmed, but several potential investments are being evaluated, including high-tech vehicle projects in Kulim, Kedah.
The NCER is collaborating with the Malaysian Investment Development Authority and the Ministry of Investment, Trade and Industry to assess these opportunities. Currently, two investors have been identified for the EV battery segment, and three are being considered in the automobile segment. The initiative follows the launch of the NCER 2026-2030 Strategic Development Plan by Economy Minister Akmal Nasrullah Mohd Nasir, which aims to achieve a cumulative investment of RM470 billion by 2030.
Of this, 70% will come from key sectors such as E&E, automotive, high-value tourism, and modern agriculture, a RM126.2 billion increase from the previous plan's RM343.8 billion target. Mohamad Haris emphasized that the focus on E&E and semiconductors won't exclude other sectors, and efforts are being made to spread growth beyond existing investment centers.
Kedah's Kulim Hi-Tech Park and Perlis' Chuping Valley remain key areas for investment, with semiconductor activities remaining a major draw. The NCER's diversification efforts aim to ensure economic growth reaches less-developed areas across the four NCER states, creating employment opportunities and higher-valued industries that generate productivity and value-added activities.
About 45% of the targeted jobs are expected to be high-skilled positions. NCER is collaborating with local educational institutions and industry players to identify specific skills required by investors.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
