TNB to invest RM90 million in setting up EV charging points along PLUS highway

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Tenaga Nasional Berhad (TNB) has announced that it will be building electric vehicle (EV) charging infrastructure in various spot along the North-South Expressway as part of its collaboration with PLUS Malaysia Bhd. Accordingly, the utility firm is investing RM90 million over the next 3 years to support the EV ecosystem. 

According to national news agency Bernama, TNB president and chief executive officer (CEO) Datuk Baharin Din yesterday asserted that the company is aiming to accelerate the battery electric vehicle (BEV) adoption to capture the RM1.3 billion market value by 2030. Furthermore, TNB also welcomes any collaboration with strategic partners to stimulate growth of the BEV ecosystem.

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The move follows the collaboration between TNB and PLUS announced back in March to reduce carbon emissions on PLUS highways through sustainability initiatives. These include the development of a network of electric vehicle (EV) charging stations, the installation of energy efficiency monitoring and solar photovoltaic systems at selected rest and relaxation (R&R) areas along the PLUS highway network.

Besides the collaboration with PLUS, Baharin also confirmed that TNB is in talks with other highway operators as well as federal road authorities under the Public Works Department (PWD). The TNB president further stressed that the EV market has a potential for 3300 charing points for 33,350 BEVs on the road by 2025 with an annual electricity revenue of RM80 million. 

In fact, the market is also projected to increase to 18,000 charging points for 524,409 BEVs on the road for an annual electricity revenue of RM1.25 billion by 2030. Baharin said that it is forecasted that half a million EVs will be on the road with 2.3 TWh of electricity charging requirements valued at Rm1.26 billion. 

He also lauded EV’s positive impact on both climate and TNB’s bottom line, hence why the development of the EV ecosystem is a clear priority for TNB. By 2030, it is hoped that 4.4 million tonnes of CO2 emissions reduction can be achieved by taking internal combustion engine (ICE) vehicles off the road.

So, what do you guys think about the collaboration between TNB and PLUS? Share your thoughts with us in the comments below and stay tuned to TechNave for more tech news in Malaysia and beyond!