M'sia Exploring Japanese Hybrid, Electric Vehicle Technologies

KUALA LUMPUR, April 26 (Bernama) -- Malaysia is exploring the Japanese hybrid and electric vehicle technologies as it strengthens business ties with Japan, the Senate was told Thursday. International Trade and Industry Minister Mustapa Mohamed said Malaysia had held discussions with Japanese hybrid vehicle firms as it felt that Japan still produced among world's best cars despite being overtaken by China and the United States in the car manufacturing sector. "However, Japan remains among the best car manufacturers with famous brands such as Honda and Mitsubishi," he said when responding to a question from Senator Mohammed Najeeb Abdullah. Mustapa said Japan's Tokuyama Corporation was investing in solar energy by building a polysilicon plant to produce materials for solar cells and electronic parts in Bintulu. "These new areas have attracted Japanese companies to invest in the country besides the manufacturing sector where Sony and Panasonic have invested USD20 million to produce electronics products," he added. Mustapa said Malaysia would be launching the second wave of the Look East Policy promotion on a large scale to encourage Japan to double its investment in the country. "It's been 30 years since we established good cooperation with Japan through the Look East Policy and we hope this relationship will be further enhanced by exploring new areas," he said. He said Malaysia and Japan ties would be boosted through a three-day investment mission to Kyoto and Nagoya headed by Deputy International Trade and Industry Minister Mukhriz Tun Mahathir starting Wednesday. "Simultaneously, Mukhriz is also joining the four-day Asean Economic Ministers visit to Sendai and Tokyo," added Mustapa. -- BERNAMA