Malaysia on right track to be EV power house

 Geely and Tesla..and conducive ecosystem provide support

KUALA LUMPUR: Malaysia is on the right path to become an electric vehicle (EV) powerhouse in South-East Asia with the government aggressively promoting a conducive EV ecosystem, supported by strong business commitment shown by two world-renowned automotive companies, Geely and Tesla.

Malaysian Automotive Association (MAA) president Mohd Shamsor Mohd Zain said the entry of China’s Zhejiang Geely Holding Group Co, or simply Geely, and United States-headquartered Tesla Inc into the Malaysian market serves as a clear indication of the country’s relevance in the regional automotive landscape.

He said the two auto makers, with their vast global experience and access to leading technologies, could introduce new ideas and ways of doing businesses to the local automotive sector, such as high-tech research and development (R&D) in new products that might not be currently available in the country.

“For example, electrification means a change in vehicle components, with more focus given to battery manufacturing and other specialised components for EVs.“We would also see the industry adopting new skillsets and infrastructure suited to varying degrees of electrification – from mild hybrids to fully electric vehicles – besides reskilling or upskilling the automotive workforce, whilst opening up new opportunities for innovation, R&D and high-value manufacturing of components,” he told Bernama.

He added that with the right government support, infrastructure and policies in place, Malaysia is well positioned to be a regional hub supporting the global growth of EVs given its strategic positioning and favourable economic conditions.

Malaysia is a major electrical and electronics manufacturing hub in South-East Asia; therefore, he said, automakers and automotive investors can seamlessly leverage on this capacity to secure their supply chains for growing their production of next-generation vehicles.

The components sub-sector can be capitalised on to service the whole automotive value chain, covering semiconductors, sensors, automotive electronics, transceivers, batteries, and vehicle assembly.

Mohd Shamsor said with more than 40 brands in the domestic market currently, the entry of new players would undoubtedly add greater excitement to the market and generate more interest among consumers.

Besides, it would also create a buyer’s market by providing more choices and increasing competitiveness, keeping all automotive players on their toes and resulting in better services and offerings for consumers.

“Malaysia may be new to the EV industry, but with the solid support of the current government and progressive national policies coupled with fast-growing consumer uptake, we foresee rapid holistic growth in our local EV market.

“New players in the EV space will lead to greater competition, which in turn will spur more investments from automotive players and improvements in the quality of products and services offered,” he pointed out.

Additionally, Mohd Shamsor said, with more EVs, including the completely knocked down models, coming into the country, there would also be new business opportunities for the vendors.

Meanwhile, Icats University College pro vice-chancellor Prof Datuk Dr Shazali Abu Mansor said EV is still considered as a niche market for the domestic automotive landscape, and that strong demand and supply are equally important for the industry to penetrate the Malaysian market at a meaningful rate.

He said as Malaysia manages its competitive advantages according to world standards, major adjustments in the structure of employment, tax, and subsidy allocation are inevitable in the journey towards creating critical mass.

“In some prominent EV countries, carbon tax is implemented to encourage both consumers and manufacturers to shift towards more environment-friendly vehicles.

“Malaysia used to be an agriculture and commodity-based country, but now the economy boasts robust manufacturing and service sectors, and is going to be a high-tech nation by 2030.

“We must move on and make way for new changes,” he reckoned.

Source link

Disrupting force

https://mystar.pressreader.com/article/281522230583126

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Dashcam to the rescue: Scammers’ hopes of a quick buck dashed

 

North Klang district police are investigating a video showing a man purposely throwing himself onto a car’s windshield, which has gone viral. 

 

PETALING JAYA: A woman driver crashes into a group of mat lajak cyclists, and another driver is shocked when a pedestrian throws himself onto his car windscreen, smashing it.

The woman has been jailed but the driver of the other car managed to escape from a potential scam.

The reason – the second driver had a dashcam.

Dashcams have suddenly become a hot topic again as the debate continues over whether the woman deserves to be jailed or not. A video of the windscreen smashing scam has also gone viral.

ALSO READ:  No problems with dashcams as long as safety concerns met, says Transport Ministry

Car salespersons and auto accessory dealers have confirmed the increasing demand for dashcams, adding that customers choose to install them for safety reasons.

Salesman Foong Wen Sian said that in recent years, 60% to 70% of customers have chosen to install dashcams when buying their cars. “Customers ask if our vehicles are equipped with a dashcam and also request for it to be installed,” he said.

Foong said dashcams are important especially when accidents or thefts occur in areas without CCTVs.

“With dashcams, the recording can be used as evidence so police can take action,” he said.

Another car salesman, Annison Francis, said dashcams are important for women to defend themselves in cases of unwanted incidents on the road.

Dashcam salesperson Willie Cheng said there was a 30% increase for the product in the past year.

“More motorists are now educated about its importance,” said Cheng.

ALSO READ: Dashcam okay if it does not affect vehicle’s safety

Businessman Jason Wong, 70, said he was planning to install a dashcam for both the front and rear sides of his car.

“There are many drivers with bad driving habits nowadays so having a dashcam gives me evidence in case of any accident,” he said, adding that it could also avoid potential arguments.

Fitness instructor Wayne Wong Zhi Herng, 30, said the recent ruling in the mat lajak case – which saw clerk Sam Ke Ting jailed for six years – prompted him to install a dashcam.

“We can never be too sure of what can happen on the road so a dashcam comes in handy in case of any misunderstanding,” he said.

Casey, 29, an accountant, said he installed a dashcam due to concerns about scams and road rage.

“I fear cases where people intentionally get hit by vehicles and then claim compensation.

“Having a dashcam will give us evidence to better explain the situation to the authorities,” he said.

A dashcam video has gone viral showing a man throwing himself onto an oncoming vehicle, leaving the windscreen smashed.

A group of people then suddenly appeared and seemed to surround the driver.

When driver told them to wait for police as he had dashcam footage, the group, including the “accident victim” quickly dispersed.

 Source link. 

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SAVING FUEL AS PRICES AT PUMPS SOAR

 

Money-saving fuel tips for drivers as petrol and diesel costs rise

The conflict between russia and Ukraine has massively driven up fuel prices in many parts of the world as the cost of oil surges. But there are simple ways to reduce the amount of petrol or diesel you need to get around. — dpa

 

WITH pump prices for petrol and diesel soaring as a result of Russia’s war in Ukraine, there has never been a better time to learn how to save fuel by driving economically.

The first tip is to make sure the tyres are pumped up to the right pressure. Low tyre pressures increase a vehicle’s rolling resistance and that costs fuel.

The correct pressures are listed in your owner’s manual and they will vary depending on the load you are carrying. With four passengers and luggage on board, you will need the tyres inflated to the maximum recommended pressures.

Removing heavy items from the boot and remembering to take off the roof or rear-mounted bicycle or ski racks will save weight and improve aerodynamic efficiency.

Ultimately, driving too fast is the biggest fuel-guzzling factor so a light right foot is essential. That means thinking ahead.

If your route takes you past a series of traffic lights, you should watch out for red signals well ahead. This allows you to ease back on the accelerator or slow down naturally. In many cases, you can keep moving rather than coming to a complete stop.

The aim is to not lose momentum. Accelerating from a standstill always uses more fuel, along with going up any steep incline. If a hill is not too steep, try to stay in gear rather than change down too early.

Drive as smoothly as possible, using the steering, accelerator and brakes gently. Many cars have a dashboard indicator which shows the best time to change up to a higher gear. This lowers the engine revolutions and saves fuel.

The best advice in built-up areas is to change as swiftly as you can at around 2,000 rpm. Naturally, the faster an engine spins, the more fuel it uses.

When slowing down, it’s important to remain in gear since the fuel cut-off switch in a fuel-injection engine is then activated, which means hardly any fuel is used while braking.

In cars without a stop-start facility, it makes sense to switch off the engine at the traffic lights or in a traffic jam if the pause is likely to last more than 20 seconds. The extra wear on the starter motor and battery is negligible.

It might seem a good idea to switch on the cruise control and let the car take care of maintaining a constant speed, yet this could actually worsen fuel consumption. This is especially the case in hilly terrain where the engine has to constantly change speeds and the transmission hunts for the right gear.

Cruise control will work best when driving on a constant flat surface such as a motorway or long stretch of dual-carriageway where the driver can leave the car in top gear and gently cruise along, using minimal fuel.

Switching on the air conditioning will also worsen fuel economy, since the engine needs power to make the system work.

Try to also combine journeys so that the car engine remains warm. Cold starts are the least fuel-efficient part of any trip and several of them in succession will push up consumption even though the overall mileage may turn out to be the same. – dpa

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The single worst financial decision

Buying a new car is regarded as a waste of money

  WHEN I discussed whether to buy a car or a house first in my last article, I received a lot of feedback from friends and readers. Someone even sent me an interesting article entitled “Buying a New Car Is the Single Worst Financial Decision”.

The remark was made by Davis Bach, a self-made millionaire who is also one of the American best-selling financial authors, a motivational speaker and an entrepreneur.

That was a bold statement but not without basis. In the article published by CNBC Make It, David Bach said, “Nothing you will do in your lifetime, realistically, will waste more money than buying a new car.”

He pointed out that a car's value drops 20% to 30% by the end of the first year. In five years, it can lose 60% or more of its initial value. And, most people actually borrow money to buy a car.

“Why would you borrow money to buy an asset that immediately goes down in value by 30%?” says Bach.

His views concurred with the idea I have been sharing in this column over the years.

In my last article, I mentioned the value of my friend’s car dropped 70% from RM140,000 to RM40,000 over eight years. On the other hand, another friend who bought an affordable apartment during the same time, enjoyed a huge capital appreciation as the apartment increased from RM100,000 to more than RM200,000 during the same period.

Both borrowed money to buy their house and car respectively. However, there is a clear contrast between the two items by looking at their long-term values. A house is an appreciating asset, and a loan on such an asset I like to call a “Good Debt”; while a car losses money, and is therefore deemed as “Bad Debt”.

Not only does a car depreciate in value, but owning a car also comes with expenses such as petrol, maintenance, licence, toll, insurance and parking costs. A person who owns a normal sedan car and travels about 1,000 km per month, can easily spend about RM1,500 per month for car loan repayment and other relevant expenses.

With ride-sharing services (such as GrabCar in Malaysia, and Uber & Lyft in other countries) becoming so convenient, and with the LRT and MRT networks being more developed, we can now choose to be car-loan free. Imagine having your own “driver” and able to use your time productively to read a book or relax when being caught in traffic jam. We are now able to enjoy this with ride-sharing services on call.

For a more economical approach, you can even opt for a "hybrid" transportation mode by combining ride-sharing and public transport services.

Chua, a reader from Muar wrote me an email last month. He shared his experience of not having purchased a property when he was young and only bought one when he was in his mid-30s due to some misperceptions.

“Looking back, how wrong I was! But today, there are just as many graduates who think just like myself when I was in my 20s and 30s. Therefore, your constant reminder to Malaysians is valid and practical. Instead of a new car, get a used car. Buy a medical insurance policy, pay EPF and try to buy a small property. These should be the priority of any young Malaysian,” Chua wrote in his email.

Bach, the self-made millionaire said, “If you’re spending US$500 (RM2,000) a month for that car, well, that’s US$6,000 (RM24,000) a year, not including the car insurance or the gas (petrol). That could be two months or three months of your income. Run the numbers and then ask yourself: Do you really need a car that's nice or could you buy a car that’s less expensive – maybe a little older – but still looks good and runs?”

That’s the sentiment that I had when I wrote about buying a house first before a car.

Buying a car may not be the single worst financial decision for everyone. There are different financial priorities at different stages of life. However, it may be the case if you buy a brand new expensive nice car prior to owning any long-run appreciating asset or investment, like a house!

Food for thought by Alan Tong

Datuk Alan Tong has over 50 years of experience in property development. He was the World president of FIABCI International for 2005/2006 and awarded the Property Man of the Year 2010 at FIABCI Malaysia Property Award. He is also the group chairman of Bukit Kiara Properties. For feedback, please email bkp@bukitkiara.com

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Better to buy a car or a house first?

Given a choice, would you prefer to get a loan to buy an item that depreciates over a short period which is deemed as “bad debt” or commit on a “good debt”, which is to purchase a house or asset that will appreciate in the long term?

A car used to be a symbol of freedom and ease of mobility. I could understand the dilemma of having to choose between a house and a car a decade ago.

Even then, we should still have chosen a car within our means to manage our financial position.

Today, with public transportation and the availability of ride-sharing services such as Grab Car, we can now really have the option of buying a house first. This gives us both shelter and value appreciation.

This choice has just been made easier with Budget 2019 and the recent announcement by the Finance Ministry.

The government has rolled out several measures to assist homebuyers, including stamp duty exemptions.

Homebuyers will get a stamp duty waiver for memorandum of transfer (MoT) for the purchase of houses priced up to RM1mil, during the six-month Home Ownership Campaign (HOC) from January to June 2019. In addition, the stamp duty on loan documentation is fully waived up to RM2.5mil.

Besides that, the Real Estate and Housing Developers Association (Rehda) has also agreed to cut the prices of its completed and incoming units by at least 10%.

When I talk to potential homebuyers, they always ask about the right time to own property.

There is no perfect time to buy a house on foresight. If the price is within your means, and you plan to buy it for own stay or as a long-term investment, then anytime is a good time.

However, with the property market at the bottom half of the cycle now, this could be a good time to commit to a house with the attractive tax incentives rolled out by the government.

Homebuyers can grab the “duty-free” opportunity now to explore the property market. Those living in the Klang Valley will be able to find their dream home during the Homeownership Campaign Expo at the KLCC Convention Centre from March 1-3.

The campaign is jointly organised by Rehda and the Housing and Local Government Ministry. Besides having all developers under one roof, the ministry will also be featuring homes under RM300,000 by PR1MA, SPNB, PNB and others.

The Homeownership Campaign was first held in 1998 to lessen the burden of homebuyers and to encourage homeownership. It is re-introduced after two decades now with the same objective.

For homebuyers who don’t like the risk of buying a house under construction, there are plenty of completed units for sale in the campaign.

Buying a house can be emotional and uncertain for many homebuyers. However, in the long run, we can rest assured that we are buying an asset that will appreciate.

For homebuyers, always buy within your means as you can upgrade your house in the later stage of your life.

In this auspicious Chinese New Year, I hope you decide to prioritise a new house over a new car. Gong Xi Fa Cai!

By Alan Tong . . . Food for Thought

Datuk Alan Tong has over 50 years of experience in property development. He was the World President of FIABCI International for 2005/2006 and awarded the Property Man of the Year 2010 at FIABCI Malaysia Property Award. He is also the group chairman of Bukit Kiara Properties. For feedback, please email bkp@bukitkiara.com


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China's Baidu taps Partners for Driverless Car Project

Growth strategy: A fleet of vehicles equipped with Baidu’s autonomous driving technologies conduct road testing in Wuzhen, Zhejiang Province. Widely considered the Google of China, Baidu is hoping research into artificial intelligence will create a new generation of products to help revive revenue growth.

https://youtu.be/S-FssvbZFzc

• Partners include Bosch, Continental, Chinese automakers Company also showed off a voice-activated speaker device

• Partners include Bosch, Continental, Chinese automakers Company also showed off a voice-activated speaker device

Baidu Inc has enlisted more than 50 partners for its Apollo driverless project, signing up major players in areas from mapping and ride-sharing to automaking to aid the Chinese search giant’s foray into AI-powered vehicles.

The program aims to open up part of Baidu’s autonomous car software in the same way that Google released its Android operating system for smartphones. By encouraging more companies to build products using them, Baidu hopes to fine-tune its nascent systems and overtake rival research efforts by the likes of Google parent Alphabet Inc.’s Waymo.

Baidu listed four Chinese carmakers, suppliers Robert Bosch GmbH and Continental AG and technology companies including Microsoft Corp. as part of the Apollo alliance. Southeast Asian ride-hailing giant Grab and mapping systems company TomTom NV are also joining the program, which aims to get fully autonomous vehicles on city streets as early as in 2018.

Widely considered the Google of China, Baidu is hoping research into artificial intelligence will create a new generation of products to help revive revenue growth. It has a stated goal of releasing a driverless car by 2018 with mass production to begin by 2021, but some analysts believe its technology still lags that of competitors like Waymo. At a Baidu conference Wednesday, developers showed off the Chinese search provider’s personal assistant, DuerOS.

Baidu’s shares traded in New York rose 2.7 percent to $184.76 at 10:14 a.m. The stock has risen 12 percent so far this year.

The raft of Apollo agreements unveiled Wednesday at Baidu Create cover virtually every automotive field. Dutch company TomTom said in a statement it will help Baidu with high-definition mapping in the U.S. and Western Europe. Several of Apollo’s members already have separate cooperation agreements in place with Waymo and other driverless car providers.

“As we and our partners contribute to the platform in our areas of specialty, we all gain more, with the results far greater than just our own,” Baidu group president Qi Lu said in a statement.

— Bloomberg News With assistance by David Ramli

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